ED Raids 13 Locations in Delhi-NCR, Bengaluru and Chandigarh Over NRI Loan Fraud

The Enforcement Directorate (ED) has launched an expansive multi-city enforcement operation in connection with an alleged housing loan fraud scheme involving Non-Resident Indians (NRIs), executing simultaneous searches across 13 locations spanning Delhi-NCR, Bengaluru, and Chandigarh. Mobilized under the statutory provisions of the Prevention of Money Laundering Act (PMLA), the search operations are being spearheaded by specialized task teams attached to the agency’s Delhi Zonal Office-II. The anti-money laundering agency initiated the nationwide offensive following intelligence pointing to an organized financial network that allegedly exploited fabricated documents, forged credentials, and deceptive paperwork to secure substantial housing credit packages categorized under NRI mortgage facilities.

13 Locations Targeted: Antriksh Promoters and Sunshine Infrawell in ED Crosshairs

Central to the financial crimes probe are two high-profile infrastructure and real estate development entities: M/s Antriksh Promoters and Developers Pvt Ltd and M/s Sunshine Infrawell Pvt Ltd. Investigating officials established search perimeters across administrative corporate offices, registered company hubs, and residential properties associated with the key directors, promoters, and principal management personnel of both realty firms. The multi-jurisdictional raid covers strategic urban commercial zones from the National Capital Region to the IT corridor of Bengaluru and regional centers in Chandigarh, with federal sleuths verifying corporate ownership structures, routing channels, and secondary transactions tied to both corporate balance sheets.

Modus Operandi Under PMLA: Forged Papers and Financial Paper Trails Scrutinized

The core of the investigation revolves around an intricate apparatus designed to fabricate identity credentials, offshore employment records, and income verifications to secure housing loans sanctioned by financial institutions for non-resident buyers. ED search teams are examining physical loan application files, seized accounting ledgers, registry documents, and encrypted digital storage units to map out the financial paper trail and determine whether loan disbursements were illegally diverted away from intended real estate developments. With search operations ongoing through the day, federal authorities are compiling forensic recovery inventories and questioning key stakeholders to identify the broader syndicate of banking facilitators, chartered professionals, and corporate intermediaries involved in executing the mortgage fraud.