7 months ago
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The Directorate of Enforcement (ED) has provisionally attached immovable properties amounting to ₹423.38 crores of Ozone Urbana Infra Developers Pvt. Ltd. and its promoters.
Ozone Urbana Infra Developers Pvt. Ltd. is accused of not lone delaying the completion of the realty task aft collecting wealth from homebuyers, leaving them successful a lurch for years now, but besides diverting this wealth to bargain idiosyncratic assets for its promoters. The Central Bureau of Investigation (CBI) has besides been probing the lawsuit based connected directions of the Supreme Court.
“In bid to safeguard the involvement of the customers, immovable properties of the Ozone Urbana Infra Developers Pvt. Ltd. (Unsold banal successful the Avenue (92 flats) and Aqua 2 projects (13 flats), 4.5 Acres of commercialized land) and idiosyncratic properties of its promoter S. Vasudevan on with his woman (179 acres of onshore astatine Kannehalli Village, Mudigere) each totalling to the tune of ₹423.38 crores has been provisionally attached,” ED further said, giving retired details of the properties provisionally attached successful the case.
Raids successful August
It tin beryllium recalled that ED had raided the steadfast and its promoters connected August 1, 2025. ED had past claimed that its raids uncovered Ozone Urbana Infra Developers Pvt. Ltd., on with S. Vasudevan (main promoter), had defrauded the location buyers to the tune of ₹927.22 crore.
“The accused diverted the funds to the different radical entities and associated individuals including S. Vasudevan himself and his household members generated the proceeds of transgression to the tune of ₹927.22 crore and routed the aforesaid done assorted entities and utilized for the intent different than the funds really meant for the operation and improvement of projects successful Ozone Urbana Infra Developers Pvt. Ltd,” ED said successful a connection connected Saturday.
