The Enforcement Directorate (ED) on Monday arrested Sandeep Yadav and Arvind Walia, director and majority shareholders of Ramprastha Promoters and Developers Pvt Ltd (RPDPL), in connection with its ongoing investigation related to the alleged “builder buyer fraud” of ₹1,100 crore, officials said.
The agency’s move comes after ED officials conducted searches on the residential and business premises of Sandeep Yadav and Arvind Walia earlier on Monday under the Prevention of Money Laundering Act, 2002, at three locations in Delhi and Gurugram in connection with a money-laundering case against RPDPL.
On July 11 this year, ED had also attached immovable properties worth ₹681.54 crore belonging to RPDPL and its group companies.
ED investigation revealed that RPDPL had collected approximately ₹1,100 crore from more than 2,000 homebuyers for various projects such as Project Edge, Project Skyz, Project Rise and Ramprastha City (plotted colony project), and possession of the flats and plots are yet to be given even after a lapse of 15-20 years.
Published on July 21, 2025
