The Enforcement Directorate (ED) has restituted flats, commercial units, and plots valued at ₹175 crore to over 200 homebuyers, ending a wait of more than 12 years for possession of their dream homes. The unsold inventory, comprising 354 flats, 17 commercial units, and two plots, belongs to the Royal Rajvilas (RRV) project in Udaipur, Rajasthan. The project’s current market value is estimated at around ₹175 crore, the ED said in a statement.
The case pertains to a money laundering investigation against an accused named Bharat Bomb, among others, who are alleged to have cheated the Syndicate Bank (now Canara Bank) to the tune of ₹1,267.79 crore between 2011 and 2016. The ED had attached properties worth ₹535 crore in this case in April 2019, including assets of ₹83.51 crore in the form of unsold/unregistered inventory of a company named Udaipur Entertainment World Private Limited (UEWPL).
Multiple cases were filed against this attachment order, and the company was later admitted for insolvency before the National Company Law Tribunal (NCLT). The resolution plan of UEWPL was approved by the NCLT, Mumbai, in February 2022, which also vacated the ED attachment order of April 2019 regarding UEWPL’s properties. The ED noted that it was not made a party in the proceedings before the NCLT.
Later, the matter went to the Rajasthan High Court, which observed that ED had suffered in the case as it was not impleaded in the NCLT proceedings. The new management of UEWPL then approached the Supreme Court challenging the Rajasthan HC order. The apex court directed both parties to arrive at a consensus to “protect” the interest of bona-fide homebuyers, who had invested their money in the project but could not take possession due to pending legal proceedings.
In view of the Supreme Court’s directions, the ED approached the Resolution Professional and new management of UEWPL seeking details of all homebuyers whose claims were admitted before the NCLT. After scrutinizing the details, the ED submitted a No Objection Certificate before the Supreme Court for restitution of the attached properties for the benefit of bona-fide homebuyers, except for some assets.
The agency said it took a “proactive” approach to arrive at a “harmonious” solution without compromising the objectives of the Prevention of Money Laundering Act (PMLA), prioritizing the 213 homebuyers who had suffered due to prolonged litigation. In view of the affidavit made by the ED, the Supreme Court issued an order on October 10, 2025, directing that the attached properties, with a present market value of about ₹175 crore, stand restituted to the Successful Resolution Applicant of UEWPL solely for the benefit of genuine and innocent homebuyers.
This move brings to an end the plight of 213 innocent homebuyers who had been waiting for over 12 years, amid more than seven years of litigation between UEWPL and the ED. The Supreme Court emphasized that the order is specific to the peculiar facts of this case and does not set a precedent, leaving legal questions open for future determination.
The apex court also appreciated the role of the ED, stating, “…we place on record our appreciation for the efforts made by the learned counsel for the parties and the DoE (Directorate of Enforcement or ED) in restoring the attached properties to secure the interests of genuine and innocent home buyers.
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