The Enforcement Directorate (ED), Gurugram Zonal Office, has provisionally attached three immovable properties in Farrukh Nagar, Gurugram, valued at approximately ₹15.40 crore, in connection with a money laundering case against real estate firm M/s Savyasachi Infrastructure Pvt Ltd (SIPL) and its promoters. The action has been taken under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The investigation was initiated on the basis of three FIRs filed by the Haryana Police and the Economic Offences Wing, Delhi, against SIPL, its directors including Vijay Rajan, and other key associates.
According to the ED, SIPL floated township and SCO schemes under the names ‘Amaya Greens Project’, ‘Amaya Greens Extension’ and ‘Amaya Bazar’, offering investors plots, flats, and commercial spaces in return for upfront payments. The company, however, allegedly failed to deliver the promised properties or refund the investment, causing financial losses to over 100 investors.
The investigation revealed that in 2019, SIPL commenced bookings based on false representations, without obtaining mandatory licenses, approvals, or ownership rights over the proposed land. The ED stated that the company attempted to alienate some of the plots already promised to investors by executing conveyance deeds in favor of third parties, including individuals associated with the firm.
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SIPL had assured investors that possession and development of the plots and SCOs would be completed within a year and promised guaranteed returns until possession. According to the ED, the company failed to deliver both the properties and the promised returns, amounting to alleged misappropriation of investors’ funds.
The probe further indicated that SIPL’s directors and promoters diverted the collected funds to purchase land and other assets in the names of benamidar entities. So far, the investigation has revealed that the total proceeds of crime in the case are estimated at approximately ₹18 crore.
Police authorities have already filed chargesheets in all three FIRs against SIPL, its directors — including Vijay Rajan and Harsh Khanna — and several associates. The ED has confirmed that the investigation is ongoing, focusing on tracing additional assets, analyzing financial transactions, and examining the involvement of other individuals linked to the alleged offences.
Officials emphasized that the attachment of the properties is aimed at protecting investors’ interests, recovering allegedly misappropriated funds, and enforcing financial accountability within the real estate sector. They added that the move is a critical step in ensuring justice for investors and preventing further diversion of funds in similar projects.
The ED continues to examine the flow of funds, associated assets, and the roles of promoters and connected parties, as part of the ongoing probe under the PMLA framework. The agency stated that all actions are being carried out in line with statutory provisions to safeguard public interest and maintain transparency in real estate operations.
About the author – Rehan Khan is a law student and legal journalist with a keen interest in cybercrime, digital fraud, and emerging technology laws. He writes on the intersection of law, cybersecurity, and online safety, focusing on developments that impact individuals and institutions in India.
