ED Files Chargesheet Against Real Estate Developers in Rs 1,100 Crore Fraud Case
The Enforcement Directorate (ED) has filed a chargesheet in a Prevention of Money Laundering Act (PMLA) case against Three C Shelters Pvt. Ltd. and its promoters, alleging a massive fraud in the Greenopolis real estate project in Gurugram. The developers are accused of siphoning off over Rs 600 crore from homebuyers.
Real EstateFraudPmlaHomebuyersGreenopolisReal EstateAug 27, 2025
The homebuyers have alleged that they were cheated by the firm and its directors. The accused collected over Rs 1,100 crore from homebuyers, representing more than 90% of the total cost in many cases, but the developers have failed to deliver possession to date.
The ED initiated the PMLA investigation based on an FIR registered by the Economic Offences Wing (EOW) of the Delhi Police. The complaints alleged large-scale cheating and criminal breach of trust by the developers in the Greenopolis project, located in Sector-89, Gurugram. The EOW, after a thorough investigation, filed multiple chargesheets, and the matter is currently pending before the Saket Court for the framing of charges.
The ED investigation revealed that Three C Shelters Pvt. Ltd. and Orris Infrastructure Pvt. Ltd entered into a joint development agreement in November 2011 to construct the Greenopolis housing project in Gurugram. The project, launched in 2012, comprises over 1,700 flats across 29 towers. Despite collecting over Rs 1,100 crore from homebuyers, the developers failed to deliver possession.
The construction came to a standstill in 2016, with only skeletal structures erected. The ED found that over Rs 600 crore of homebuyers' funds were siphoned off and diverted through various fraudulent means by 3C Group entities. The investigation has established that funds were diverted to related companies, routed through Kolkata-based shell entities by Three C Shelters Private Limited, and siphoned by way of bogus billing raised through Globus Constructions Pvt. Ltd., an in-house contractor.
The promoter of Globus Construction Pvt. Ltd, Harmeet Singh Oberoi, is the brother-in-law of the promoter, Nirmal Singh. After siphoning off the funds from the main company, the shares of Globus Construction were again gifted to the promoters of the Developer.
The investigation also revealed that approximately Rs 214.09 crore was diverted to group entities, Rs 131.46 crore routed through NU Ruchi Barter Pvt. Ltd., a Kolkata-based shell company, Rs 125.67 crore siphoned via Globus Constructions Pvt. Ltd., and unsold inventory of about two lakh square feet worth nearly Rs 90 crore was misused for non-project purposes. For these diversions, the accused entities manipulated books of accounts, layered through multiple shell entities, and siphoned through related-party firms.
The ED has also attached movable and immovable assets worth Rs 506.45 crore in this matter, ensuring that the funds misused by the developers are recovered to the extent possible.
Frequently Asked Questions
What is the Greenopolis real estate project?
The Greenopolis real estate project is a housing development comprising over 1,700 flats across 29 towers in Sector-89, Gurugram. It was launched in 2012 by Three C Shelters Pvt. Ltd. and Orris Infrastructure Pvt. Ltd.
How much money did the developers collect from homebuyers?
The developers collected over Rs 1,100 crore from homebuyers, representing more than 90% of the total cost in many cases.
What happened to the construction of the Greenopolis project?
The construction of the Greenopolis project came to a standstill in 2016, with only skeletal structures erected. The developers failed to deliver possession to the homebuyers.
How did the developers siphon off the funds?
The developers siphoned off over Rs 600 crore of homebuyers' funds through various fraudulent means, including diverting funds to related companies, routing through Kolkata-based shell entities, and siphoning via Globus Constructions Pvt. Ltd.
What actions has the ED taken in this case?
The ED has filed a chargesheet in a PMLA case against the developers and attached movable and immovable assets worth Rs 506.45 crore in this matter.
Related News Articles
Sunteck Realty Reports Net Profit of Rs 101.33 Crore in Q4 FY24
Sunteck Realty's net consolidated total income stood at Rs 434.99 crore in Q4 FY24
Due Process Must be Followed by Trademark Registrars in Examining Cases
The Mumbai High Court has ordered the Trademark Registry to re-examine a case involving the transfer of ownership of two trademarks, highlighting the importance of following due process in such cases.
Prestige Estates to Launch 43 New Real Estate Projects Across 7 Cities
The company has a total land bank of 260 acres across Bengaluru, Mangaluru, Mysuru, and Pune.
Pune Real Estate Firm Falls Victim to Rs 24 Lakh Cyber Fraud
An employee from the accounts department of a Pune-based real estate firm was tricked into transferring Rs 24 lakh to fraudulent accounts after receiving a message from someone posing as the company director’s father. The incident highlights the increasin
How REITs and Fractional Ownership are Reshaping the Real Estate Market
With minimum investment thresholds ranging from Rs 10-25 lakh, retail investors now have the opportunity to participate in the real estate market with limited capital.
Bombay High Court Allows Adani Electricity to Cut 209 Mangroves for Infrastructure Project
The Bombay High Court has issued a ruling permitting Adani Electricity Mumbai Infra Ltd. (AEMIL) to cut down 209 mangroves near Vasai Creek for a critical infrastructure project.