New Delhi, July 30, 2026 (Yes Punjab News)
The Enforcement Directorate (ED) has conducted search and survey operations at eight locations linked to Gurugram-based real estate firms Imperia Wishfield Private Limited (IWPL), Imperia Structures Limited (ISL), their promoter-directors and the company’s present Resolution Professional in connection with an alleged real estate fraud involving more than ₹63 crore collected from homebuyers.
According to the ED, the searches were carried out on Wednesday by its Gurugram Zonal Office under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, at residential and business premises in Delhi and Gurugram.
During the operation, officials seized cash amounting to ₹50.50 lakh, three high-end luxury vehicles, digital devices and several incriminating documents, including property records, audited financial statements, accounting data and documents related to the alleged diversion of funds collected from buyers.
The money laundering investigation stems from multiple FIRs registered by police authorities in Haryana, Delhi and Uttar Pradesh against the companies, their promoter-directors — Harpreet Singh Batra, Brajinder Singh Batra, Pradeep Sharma and Avinash Setia — and others. The complaints allege fraud, inducement of homebuyers, non-delivery of real estate projects, default in payment of assured monthly returns and lease rentals, and diversion of investor funds.
The ED said its investigation found that IWPL had collected around ₹63 crore from buyers of the Elvedor residential project in Sector 37, Gurugram, launched in 2011. The agency alleged that the funds were diverted to meet other liabilities and routed as loans and advances to related entities instead of being utilised for the project. It added that despite nearly 15 years having elapsed, buyers are yet to receive possession of their units.
The agency also alleged irregularities in Imperia Structures Limited’s Mindspace project in Gurugram and Imperia Business Park in Greater Noida. According to the ED, the company accepted advance bookings by promising possession along with assured monthly and lease returns but failed to fulfil those commitments. Investigators also found instances where the same unit was allegedly booked for multiple buyers, while only Memorandums of Understanding (MoUs), rather than Builder Buyer Agreements (BBAs), were executed without specifying unit details or possession timelines.
The ED said the Elvedor project is currently undergoing resolution proceedings and that the proceeds of crime relating to other projects are being quantified. The investigation is continuing.
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