New Delhi, Sep 28 (NationPress) The Enforcement Directorate (ED) Gurugram zonal office has temporarily seized both immovable and movable assets totaling Rs 153.16 crore belonging to former promoters of Universal Buildwell Private Limited and its affiliated entities, including their significant associates, the agency announced on Sunday.

The attached assets feature 29.45 acres in Behror, Kotputli, Rajasthan, alongside multiple units at Universal Trade Tower, Sector-49, Gurugram and fixed deposits amounting to Rs 3.16 crore, all under the Prevention of Money-laundering Act (PMLA), 2002, as indicated by a provisional attachment order dated September 17, 2025.

The ED further stated, "A Prosecution Complaint was filed on September 19, 2025, naming the arrested ex-promoters and other key figures as defendants, before the Special PMLA Court in Gurugram."

The agency commenced an investigation based on over 30 FIRs filed under various sections of the IPC across the Delhi-NCR region against Universal Buildwell Pvt. Ltd., along with its promoters — Raman Puri, Vikram Puri, and Varun Puri — for their failure to timely complete real estate projects, deceiving homebuyers and investors, leading to significant financial losses.

The ED noted, "The three promoters and former Directors of M/s Universal Buildwell Pvt. Ltd were apprehended on July 22, 2025, under PMLA, 2002, and are currently in judicial custody."

Subsequently, the company entered the Corporate Insolvency Resolution Process (CIRP), resulting in the approval of a resolution plan that includes homebuyers and other financial creditors.

The National Company Law Tribunal (NCLT) mandated that specific assets be allocated to the homebuyers, acknowledged as financial creditors, while the remaining assets were to be liquidated.

Despite homebuyers waiting for over 15 years, the proposed resolution has further burdened them with additional costs to recover their investments in these projects.

Many homebuyers invested their money before 2010, and it is anticipated that it will take even longer before they can occupy their flats or spaces, as the projects have remained unfinished due to the actions of the ex-promoters, who halted construction since 2010.

The ED highlighted that data gathered from the resolution professional indicates that the company, through its accused promoters, amassed over Rs 1,000 crore over 12 years across eight different projects in Gurugram and Faridabad, using only a portion of those funds for development while illicitly siphoning off money to acquire land and other assets for personal gain through criminal misappropriation, cheating, forgery, and fraud. The ED added that further investigations are underway.