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.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code