What are the implications of the Rs 557 crore Mahira Group asset attachment?
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Synopsis
The Enforcement Directorate's recent asset attachment of Rs 557.43 crore in the Mahira Group scam raises questions about the future of thousands of homebuyers. This substantial action highlights the depth of the investigation into alleged cheating and forgery in the real estate sector.
Key Takeaways
- ED provisionally attached assets worth Rs 557.43 crore in the Mahira Group case.
- Investigation initiated based on FIRs for cheating and forgery.
- Over Rs 616 crore collected from homebuyers for projects that were not delivered.
- Key figures involved include Sikandar Singh and former MLA Dharam Singh Chhoker.
- Ongoing investigations are expected to reveal more details.
New Delhi, June 28 (NationPress) The Enforcement Directorate (ED) has provisionally attached assets estimated at around Rs 557.43 crore in a significant operation targeting a real estate scam linked to Mahira Group companies.
This action, executed under the Prevention of Money Laundering Act (PMLA), encompasses 35 acres of both residential and commercial properties in crucial sectors of Gurugram as well as fixed deposits totaling approximately Rs 97 lakh.
The case involves Mahira Infratech Pvt Ltd (previously known as Sai Aaina Farms Pvt Ltd), Mahira Buildtech Pvt Ltd, and Czar Buildwell Pvt Ltd. The ED's investigation commenced following multiple FIRs filed by the Gurugram Police concerning allegations of cheating and forgery. These companies are accused of submitting forged documents, including counterfeit bank guarantees, to secure licenses for affordable housing projects in Sectors 68, 103, and 104 of Gurugram.
Over Rs 616 crore was raised from approximately 3,700 homebuyers for these projects, which were never delivered. Instead, the funds were misappropriated, with money being siphoned off through inflated construction costs and fraudulent invoices from associated companies.
The investigation unveiled that the diverted funds were funneled to other group firms as long-standing loans and for personal benefit by the company's directors and promoters.
The ED stated, "The investigation disclosed that the company misappropriated funds by inflating construction costs through fake invoices from affiliated entities. The money was redirected for personal use by the company's directors and promoters."
"Moreover, funds from homebuyers were also transferred to other group entities as loans, which have remained unpaid for years," they added.
Earlier asset attachments in this case on February 15, 2024, and March 26, 2025, were appraised at Rs 81.07 crore.
Key figures such as Sikandar Singh (promoter of Mahira Group), former MLA Dharam Singh Chhoker, and Vikas Chhoker are being scrutinized. Singh was arrested in April 2024, while Chhoker, who had been evading arrest despite six Non-Bailable Warrants, was captured in May this year.
Vikas Chhoker remains at large, and a proclamation has been issued against him by the Special Court in Gurugram, where the case is currently under trial.
The ED has lodged a prosecution complaint, and the court has acknowledged it. The investigation is ongoing, with further developments anticipated as authorities delve deeper into the scam that has left thousands of homebuyers in distress.
Point of View
It is crucial to approach this unfolding story with a commitment to transparency and accountability. The ED's actions against the Mahira Group underscore the importance of safeguarding consumers and ensuring that justice prevails in the real estate sector, which has faced numerous challenges in recent years.
NationPress
28/06/2025
Frequently Asked Questions
What triggered the ED's investigation into Mahira Group?
The investigation was initiated following multiple FIRs lodged by the Gurugram Police concerning allegations of cheating and forgery by Mahira Group companies.
How much money was collected from homebuyers?
The companies collected over Rs 616 crore from approximately 3,700 homebuyers for projects that were ultimately not delivered.
What actions have been taken against the accused?
Several key individuals, including Sikandar Singh and Dharam Singh Chhoker, have been arrested, while Vikas Chhoker remains absconding.
What are the key findings of the ED's investigation?
The ED found that funds were misappropriated through inflated construction costs and bogus invoices from associated entities, benefiting company directors and promoters.
What is the current status of the case?
The ED has filed a prosecution complaint, and the court has taken cognizance of the case, with ongoing investigations expected to yield further developments.
