4 months ago
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The Enforcement Directorate (ED) has conducted searches against the Piyush Group of Companies and its erstwhile promoters successful transportation with an alleged existent property fraud case.
“The searches included the premises of erstwhile promoters, the contiguous solution professionals, directors, and a erstwhile MLA of Haryana, Mahendra Pratap Singh, a spouse successful a commercialized task done JV (Joint Venture) which has been suspected to beryllium constructed from homebuyers’ funds siphoned from different projects,” the bureau said connected Saturday (January 17, 2026).
The ED has taken enactment based connected aggregate First Information Reports (FIRs) registered by assorted investigating agencies, including the Economic Offences Wing and the Central Bureau of Investigation.
They allege that the promoters induced investors and homebuyers to put successful assorted projects by offering assured returns and timely possession. However, contempt collecting important booking amounts, they did not present connected the projects arsenic promised. The FIRs besides allege fabrication and forging of documents, allotment of the aforesaid portion to aggregate buyers, and fraudulent merchantability of mortgaged onshore without obtaining slope consent, it said.
The 2 companies are presently undergoing insolvency proceedings connected the incomplete projects successful Palwal, Faridabad, Bhiwadi, Dharuhera, and different locations successful Haryana. The radical had collected much than ₹600 crore betwixt 2010-2018. More than 2,000 homebuyers/victims are stated to person been affected.
“The Piyush Group, promoted by precocious Anil Goyal and his sons, precocious Puneet Goel and Amit Goel, was engaged successful residential and commercialized existent property improvement crossed Haryana and Rajasthan...key radical companies, including Piyush Colonisers Limited and Piyush Shelters India Pvt. Ltd., were admitted into Corporate Insolvency Resolution Process (CIRP). During CIRP, forensic audits indicated important diversion of funds,” the ED alleged.
