Gurugram, April 1 (NationPress) The Directorate of Enforcement (ED) from the Gurugram office announced on Tuesday the provisional attachment of immovable assets, including land valued at Rs. 286.98 crore, owned by Three C Shelters Private Limited and its promoters, including Nirmal Singh and others, under the Prevention of Money Laundering Act (PMLA), 2002.

Furthermore, equity shares valued at Rs. 108.04 crore in G4S Secure Solutions (India) Private Limited, associated with another promoter, Vidur Bharadwaj, were also attached.

In total, the investigation agency has attached assets worth Rs. 395.03 crore through a provisional attachment order issued on March 28, 2025, according to section 5 of the PMLA in the case concerning Three C Shelters Pvt Ltd and others.

The agency began its investigation following a First Information Report (FIR) regarding cheating, criminal breach of trust, and fraud against Three C Shelters Pvt Ltd and its promoters, accused of deceiving numerous homebuyers. The company was working on a residential project named Greenopolis in Sector 89, Gurugram, Haryana, and had amassed Rs. 873.83 Crore from homebuyers.

However, the project has remained incomplete for nine years, with the firm failing to deliver flats to the buyers, as reported by the ED.

The ED conducted searches on November 25, 2024, at the residences of the promoters of Three C Shelters Private Limited and other locations, which uncovered incriminating documents.

During the raid, it was revealed that the promoters had raised Rs 873.83 crore from unsuspecting flat buyers for the booking of flats in the Greenopolis project.

Unfortunately, the project was never completed, and the funds were redirected to other related entities.

Sources indicate that the offending company is currently undergoing insolvency proceedings, leaving homebuyers in dire financial situations.

The investigation agency discovered that the funds collected by the promoters were not used for construction and development purposes. To date, over Rs 300 crore has been siphoned off to related parties, group companies, and shell companies under the guise of “investment”, defrauding the flat buyers.

Additionally, it was found that the promoters had fraudulently sold project inventory at artificially reduced prices to relatives, vendors, and associated entities, resulting in a diversion of Rs. 90 crore. This was done to hide Proceeds of Crime (POC) and to deceive homebuyers.