Former Noida Authority CEO questioned by ED in Hacienda project scam
ECONOMY & POLICY

Former Noida Authority CEO questioned by ED in Hacienda project scam

The Enforcement Directorate (ED) unit in Lucknow interrogated Mohinder Singh, a former IAS officer and the ex-CEO of Noida Authority, at its office on Wednesday.

The former officer, along with the promoters and directors of Hacienda Projects (HPPL), faced allegations of being involved in a scam valued at Rs 6.36 billion.

Sources from the ED reported that the former IAS officer was questioned for eight hours by the agency's officials. They indicated that while some documents were verified, further verification was still needed. He would be summoned again as necessary.

In the previous month, the ED had conducted raids at 12 locations across Meerut, Noida, Goa, Delhi, and Chandigarh, targeting the promoters and directors of Hacienda Projects (HPPL). The investigation was initiated based on an order from the Allahabad High Court issued on March 1, 2024.

A consortium of companies had been allocated land in Sector 107 as part of a group housing scheme initiated by the Noida Authority in 2010-11. Hacienda Projects (HPPL) was established as a special purpose vehicle for the construction and development of a residential project.

However, the promoters allegedly secured substantial parcels of prime land without any initial investment, launched a project, and collected Rs 6.36 billion from homebuyers. Of this amount, they reportedly siphoned off nearly Rs 1.90 billion, sold part of the land to a third company, pocketed the entire sale proceeds amounting to Rs 2.36 billion, and paid a minimal amount to the Noida Authority for land costs, premiums, and lease rent, which they were obligated to pay.

The Enforcement Directorate (ED) unit in Lucknow interrogated Mohinder Singh, a former IAS officer and the ex-CEO of Noida Authority, at its office on Wednesday. The former officer, along with the promoters and directors of Hacienda Projects (HPPL), faced allegations of being involved in a scam valued at Rs 6.36 billion. Sources from the ED reported that the former IAS officer was questioned for eight hours by the agency's officials. They indicated that while some documents were verified, further verification was still needed. He would be summoned again as necessary. In the previous month, the ED had conducted raids at 12 locations across Meerut, Noida, Goa, Delhi, and Chandigarh, targeting the promoters and directors of Hacienda Projects (HPPL). The investigation was initiated based on an order from the Allahabad High Court issued on March 1, 2024. A consortium of companies had been allocated land in Sector 107 as part of a group housing scheme initiated by the Noida Authority in 2010-11. Hacienda Projects (HPPL) was established as a special purpose vehicle for the construction and development of a residential project. However, the promoters allegedly secured substantial parcels of prime land without any initial investment, launched a project, and collected Rs 6.36 billion from homebuyers. Of this amount, they reportedly siphoned off nearly Rs 1.90 billion, sold part of the land to a third company, pocketed the entire sale proceeds amounting to Rs 2.36 billion, and paid a minimal amount to the Noida Authority for land costs, premiums, and lease rent, which they were obligated to pay.

Next Story
Infrastructure Energy

New Wanpoh Substation Project Extended to June 2027

Power Grid Corporation of India (PGCIL) has been granted an 18-month extension for completing the New Wanpoh substation augmentation project in Jammu & Kashmir.The Central Transmission Utility of India (CTUIL) revised the project’s completion date to 30 June 2027, from the earlier 31 December 2025. The project involves augmenting PGCIL’s 400/220kV New Wanpoh substation with a new 400/220kV, 315 MVA interconnecting transformer (3×105 MVA) and two transformer bays—one each at 400kV and 220kV. The project, estimated at Rs 610 million, was awarded under the regulated tariff mechanism (R..

Next Story
Infrastructure Transport

Gurgaon-Pataudi-Rewari Highway Set for Completion by December 2025

The National Highways Authority of India (NHAI) has set a new target to complete the four-lane Gurgaon-Pataudi-Rewari highway by December 2025, following a two-year delay.Originally planned in 2018 to upgrade the two-lane state highway into a national highway, the project is estimated to cost Rs 9 billion. Construction, which began in 2021, was initially scheduled for completion in November 2023. According to NHAI, around 70 per cent of the work is already complete, with two major structures still pending: a railway overbridge at Pahari village and a two-lane unidirectional flyover on Dwarka E..

Next Story
Infrastructure Transport

Gurgaon-Pataudi-Rewari Highway Set for Completion by December 2025

The National Highways Authority of India (NHAI) has set a new target to complete the four-lane Gurgaon-Pataudi-Rewari highway by December 2025, following a two-year delay.Originally planned in 2018 to upgrade the two-lane state highway into a national highway, the project is estimated to cost Rs 9 billion. Construction, which began in 2021, was initially scheduled for completion in November 2023. According to NHAI, around 70 per cent of the work is already complete, with two major structures still pending: a railway overbridge at Pahari village and a two-lane unidirectional flyover on Dwarka E..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?