Enforcement Directorate Seizes Rs.590 Mn Assets of Ireo and Others

22 May 2024 CW Team

The Enforcement Directorate (ED) has seized assets worth ?590 million belonging to real estate firm Ireo and its associates as part of an ongoing investigation. The action follows allegations of financial irregularities and money laundering against the company.

According to ED officials, the attached assets include properties located in various regions, which are suspected to have been acquired using illicit funds. Ireo, a prominent player in the real estate sector, has been under scrutiny for alleged financial misconduct related to its business operations.

The ED's move is aimed at preventing the disposal of these assets as the investigation progresses. It underscores the agency's efforts to crack down on economic offences and ensure accountability within the real estate industry.

This development comes amidst increasing regulatory scrutiny in the sector, with authorities stepping up efforts to tackle financial crimes and safeguard investor interests. The attachment of assets signals a significant escalation in the investigation against Ireo and highlights the ED's commitment to pursuing cases of financial malpractice rigorously.

Investigations into Ireo's financial dealings are ongoing, with the ED working closely with other regulatory bodies to gather evidence and build a comprehensive case. The outcome of this probe is anticipated to have broader implications for transparency and compliance within India's real estate market, impacting how companies conduct their business operations moving forward.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..