Real Estate Giants and Directors Hit with Money Laundering Charges
Real Estate

Real Estate Giants and Directors Hit with Money Laundering Charges

The Directorate of Enforcement (ED) has filed a prosecution complaint against real estate companies Premia Projects Ltd and Solitaire Infomedia Pvt Ltd, along with their directors, under the Prevention of Money Laundering Act (PMLA), in connection with alleged fraud against homebuyers.

The directors named in the complaint are Tarun Shienh (Chairman and Managing Director of Premia Group), Rekha Shienh, Luxmy Rajput, and Charanjeet Singh Dani. The case has been filed in the Special Court, PMLA, Ghaziabad, Uttar Pradesh.

The ED investigation stems from multiple FIRs registered by the Uttar Pradesh Police and Economic Offence Wing, Delhi, against the aforementioned individuals on charges of fraud under the Indian Penal Code and Gangster Act, based on complaints filed by homebuyers.

During its investigation, the ED provisionally attached movable and immovable assets worth Rs. 24.17 crore, suspected to be proceeds of crime. This attachment order was subsequently confirmed by the adjudicating authority under the PMLA in New Delhi.

The prosecution complaint marks a significant escalation in the case against the Premia Group and its directors. If convicted under the PMLA, they could face imprisonment and confiscation of assets involved in the alleged money laundering scheme.

Homebuyers: This development offers a ray of hope for aggrieved homebuyers who have been waiting for justice. The court proceedings will determine the culpability of the accused and, if found guilty, could lead to compensation for the affected individuals.

The Directorate of Enforcement (ED) has filed a prosecution complaint against real estate companies Premia Projects Ltd and Solitaire Infomedia Pvt Ltd, along with their directors, under the Prevention of Money Laundering Act (PMLA), in connection with alleged fraud against homebuyers. The directors named in the complaint are Tarun Shienh (Chairman and Managing Director of Premia Group), Rekha Shienh, Luxmy Rajput, and Charanjeet Singh Dani. The case has been filed in the Special Court, PMLA, Ghaziabad, Uttar Pradesh. The ED investigation stems from multiple FIRs registered by the Uttar Pradesh Police and Economic Offence Wing, Delhi, against the aforementioned individuals on charges of fraud under the Indian Penal Code and Gangster Act, based on complaints filed by homebuyers. During its investigation, the ED provisionally attached movable and immovable assets worth Rs. 24.17 crore, suspected to be proceeds of crime. This attachment order was subsequently confirmed by the adjudicating authority under the PMLA in New Delhi. The prosecution complaint marks a significant escalation in the case against the Premia Group and its directors. If convicted under the PMLA, they could face imprisonment and confiscation of assets involved in the alleged money laundering scheme. Homebuyers: This development offers a ray of hope for aggrieved homebuyers who have been waiting for justice. The court proceedings will determine the culpability of the accused and, if found guilty, could lead to compensation for the affected individuals.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement