The Gurugram zonal team of the Enforcement Directorate (ED) has taken major action in the fraud case. The ED has attached immovable/moving assets worth Rs 153.16 crore to Messrs Universal Buildwell Private Limited and its former promoters as well as their prominent colleagues. The attached properties include 29.45 acres of land in Bahrod of Kotputli, Rajasthan, several units in Universal Trade Tower located in Sector-49 of Gurugram and fixed deposits of Rs 3.16 crore.
The ED has taken this action under a temporary attachment order of 17.09.2025 under the provisions of the Money Laundering Act (PMLA), 2002. An prosecution complaint has also been filed in Gurugram’s special PMLA court on 19.09.2025, making the arrested former promoters and other prominent people.
Investigation started on the basis of more than 30 FRI
The ED launched an investigation on the basis of more than 30 FIRs lodged under various sections of IPC, 1860 against Messrs Universal Buildwell Private Limited and its promoters Raman Puri, Vikram Puri and Varun Puri in Delhi-NCR. These FIRs were registered for not completing real estate projects on time and cheating home buyers and investors and causing financial loss.
Accused in judicial custody
The three promoters and former directors of Messrs Universal Buildwell Private Limited were arrested by the ED on 22/7/2025 under PMLA, 2002. At present, all the people are in judicial custody.
Subsequently, the company was taken to the Corporate Insolvency Solution Process (CIRP), resulting in a solution plan associated with home buyers and other financial creditors (FCs). The National Company Law Tribunal (NCLT) ordered some assets to be handed over to home buyers, who were considered financial creditors, while the remaining assets were to be liquidated.
Projects are not completed
Despite home buyers waiting for more than 15 years, home buyers have to bear additional costs as additional funds to realize their investment in these projects as a result of the proposed solution. Most home buyers invested their funds before 2010, and they are expected to take extra time to get possession of their flats or places, as projects have not been completed due to the actions of former promoters, which stopped construction since 2010.
Further investigation of ED continues
In this case, data collected from the Samadhan Professional has shown that the company collected more than Rs 1000 crore in 12 years on eight separate projects in Gurugram and Faridabad through its accused promoters and used only partial funds for development. Also rigged funds to gain land and other property for their personal benefits through criminal rigging, fraud, forgery and fraud. At present, further investigation of ED is going on.
