ED Seizes Assets Worth ₹31.22 Crore of Orris Group in Real Estate Fund Irregularity Investigation

The Enforcement Directorate (ED) has conducted a series of searches targeting Orris Infrastructure Private Limited and its associates, resulting in the seizure of assets and documents in connection with a case involving alleged financial irregularities in the real estate sector. 

The searches covered 14 locations across Delhi-NCR and focused on the company’s directors and promoters, Vijay Gupta and Amit Gupta, as well as Three C Shelters Private Limited and its representatives, Nirmal Singh Uppal and Vidhur Bhardwaj. The operation was undertaken under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.

As part of the operation, the ED seized four luxury cars from the residence of one of Orris Group’s directors. The vehicles included high-end models from Mercedes, Porsche, and BMW. Additionally, the agency froze multiple bank accounts and lockers linked to the promoters of the Orris Group. Fixed deposits and bank guarantees amounting to ₹31.22 crore, held in the name of Orris Group companies, were also seized and frozen.

The investigation stems from two FIRs registered by the Economic Offences Wing of the Delhi Police, following complaints from homebuyers and investors. These complaints highlighted delays in project completion and the failure to deliver promised residential units. The primary focus of the case is a residential housing project named Greenpolis, located in Sector 89, Gurugram, Haryana. The project was developed on a 47-acre land parcel owned by the Orris Group, with development rights granted to Three C Shelters Private Limited.

According to the ED, the companies and their representatives failed to complete the project within the stipulated time, leaving many homebuyers without their promised units. The agency has alleged that funds collected from buyers were misused for purposes unrelated to the project. During the searches, the ED recovered a significant volume of documents, including sale deeds, registration papers, and records related to financial transactions. These documents reportedly reveal a systematic diversion of funds and irregularities in financial management.

In addition to physical documents, electronic devices such as laptops and hard drives were also seized. These devices are expected to provide further evidence of financial transactions, fund transfers, and other activities that could shed light on the extent of financial mismanagement. The confiscated records include details about unsold properties, unregistered deeds, and the flow of funds between various accounts.

The ED’s action comes after the Economic Offences Wing had filed a chargesheet in the case, detailing the allegations of financial misconduct. The investigation by the ED is aimed at tracing the flow of money, identifying the beneficiaries of fund diversion, and securing the interests of affected homebuyers and investors.

By freezing accounts and seizing assets, the ED intends to prevent further financial losses for stakeholders and ensure that the accused cannot benefit from the alleged misuse of funds. These measures are seen as a step towards holding the responsible parties accountable while protecting the interests of those impacted by the delays and financial irregularities in the project.

The investigation is ongoing, with the ED expected to examine the seized documents and electronic records in detail. Additional questioning of the accused and further analysis of the financial transactions will be carried out as part of the probe.