Enforcement Directorate Conducts Raids on BPTP Realty Group in Delhi-NCR
The Enforcement Directorate (ED) has launched searches at various premises of the real estate company BPTP across Delhi-NCR, as part of a foreign exchange violation case involving funds of about ₹500 crore.
Real EstateForeign ExchangeEd RaidsBptpFemaReal Estate NewsAug 27, 2025
Locations of Business Parks Town Planners Private Limited (BPTP) in Delhi, Noida, and Faridabad were searched under the provisions of the Foreign Exchange Management Act (FEMA).
A probe found that BPTP received foreign investment of more than ₹500 crore under the 'automatic route' from foreign companies based in Mauritius during 2007-2008 through put option/swap option, which was in contravention of the existing FEMA rules and regulations, according to ED sources.
A BPTP spokesperson stated that the company is extending full cooperation to the authorities and remains confident that its position will be appropriately clarified in due course.
The sources also alleged that BPTP CMD Kabul Chawla anonymously held foreign assets. Multiple FIRs registered against the company and its directors across various police stations in Delhi-NCR are also subjects of the current ED probe.
The BPTP spokesperson reiterated that the company has always complied with the applicable laws and regulations and remains committed to transparency, ethical business practices, and the interests of all stakeholders.
This action by the ED highlights the ongoing scrutiny of real estate companies in India, particularly those involved in significant foreign investments and transactions. The case underscores the importance of adhering to financial regulations and maintaining transparency in business operations.
Frequently Asked Questions
What is the Enforcement Directorate (ED)?
The Enforcement Directorate (ED) is a law enforcement agency in India responsible for enforcing economic laws and fighting economic crime. It operates under the Ministry of Finance.
What is the Foreign Exchange Management Act (FEMA)?
The Foreign Exchange Management Act (FEMA) is a law in India that regulates foreign exchange transactions and promotes the orderly development and maintenance of the foreign exchange market in India.
What is BPTP and what does it do?
BPTP, or Business Parks Town Planners Private Limited, is a real estate company based in Delhi-NCR. It is involved in the development and management of business parks and townships.
What is the 'automatic route' for foreign investment?
The 'automatic route' for foreign investment in India allows foreign entities to invest in Indian companies without prior approval from the Reserve Bank of India (RBI) or the government, provided the investment is within the prescribed limits and sectors.
Why is BPTP being investigated by the ED?
BPTP is being investigated by the ED for allegedly receiving foreign investment of more than ₹500 crore through put option/swap option in contravention of FEMA rules and regulations. The company is also facing multiple FIRs registered against it and its directors.
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