Daijiworld Media Network - New Delhi
New Delhi, Jun 2: The Enforcement Directorate (ED) has arrested four senior officials of Earth Infrastructures Ltd in connection with an alleged Rs 2,004 crore fraud involving more than 19,000 homebuyers, officials said on Tuesday.
Those arrested include promoters and directors Avdhesh Kumar Goel, Rajnish Mittal, Atul Gupta, and Vikas Gupta. They were taken into custody by the ED’s Delhi Zonal Office on Monday under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The four accused were later produced before a Special PMLA Court in Delhi, which granted the agency five-day custodial remand for further interrogation.
According to an official statement, the investigation stems from multiple FIRs filed by the Economic Offences Wing (EOW) of the Delhi Police against Earth Infrastructures, its directors, and associated entities for alleged cheating, fraud, and criminal conspiracy. The Serious Fraud Investigation Office (SFIO) has also filed a complaint under Section 447 of the Companies Act in the case.
The agency alleged that the group collected approximately Rs 2,004 crore from over 19,425 homebuyers and investors by promising timely delivery of residential and commercial units along with assured returns. However, several projects reportedly remained incomplete, and possession was not handed over to buyers.
Investigators further stated that around Rs 467 crore was allegedly diverted through multiple group companies and related entities. The ED claims that funds were siphoned off despite substantial collections, causing significant financial losses to investors and homebuyers.
The probe also revealed that proceeds of crime were allegedly used to acquire movable and immovable assets in the names of entities linked to the promoters and directors of the group.
Earlier, the ED had carried out searches at multiple premises of the Earth Group across Delhi-NCR in April 2026. Those raids led to the seizure of Rs 6.30 crore in cash, jewellery worth Rs 8.78 crore, and documents related to more than 100 properties valued at over Rs 100 crore.
The case remains under investigation as authorities continue to trace assets and examine the flow of funds linked to the alleged fraud.