ED conducts searches on Ramprastha Group in money laundering case

06 Sep 2024 CW Team

The Enforcement Directorate (ED) carried out searches at several locations of real estate firm Ramprastha Group in Gurugram as part of an ongoing money laundering investigation. The probe is linked to allegations of cheating homebuyers, according to official sources. The ED?s case follows multiple FIRs lodged by dissatisfied homebuyers who accused the company of failing to deliver on its housing project commitments.

Projects under scrutiny include Ramprastha Rise, Ramprastha City, and Ramprastha SKYZ, all located in Gurugram, Haryana.

There has been no response from Ramprastha Group to inquiries from the source.

Sources indicated that some of the group's promoters, including Balwant Chaudhary, Arvind Walia, and Sandeep Yadav, have been summoned for questioning but have yet to appear.

On its website, the company claims to hold a significant land bank in Gurugram, with a development potential of over 80 million square feet. Ramprastha Group also stated that it has successfully sold 8,000 housing units and aims to expand to nearly 100,000 units in the future.

This ED action comes just ahead of the Haryana assembly elections, scheduled for October 5. (PTI & ET)

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..