New Delhi (Snehalata): A fourth FIR has been registered by buyers with the Economic Offences Wing (EOW) of Delhi Police against Ocean Seven Buildtech Private Limited promoter Swaraj Singh Yadav for serious charges of fraud, cheating, money laundering, and mental harassment in Haryana’s Affordable Housing Projects under the Pradhan Mantri Awas Yojana (PMAY).
Before this, three FIRs had already been filed in Haryana. Shockingly, despite criminal cases being registered under Sections 406, 409, 420, 120B, and 34 of the IPC, Gurugram Police has not made any arrests so far, even though nearly three months have passed since the first FIR was filed. This situation raises serious questions about the pressure on the police and has shaken the trust of thousands of aggrieved buyers in the Haryana police and administration.
Under the PMAY scheme in Haryana, Ocean Seven Buildtech Pvt. Ltd. had launched three major projects — Expressway Towers (Sector 109), The Golf Heights (Sector 69), and The Venetian (Sector 70) — which have remained incomplete since 2016. There are strong suspicions of large-scale fund diversion from these projects’ escrow accounts. Reports suggest that the builder did not cooperate with the forensic audit and failed to submit even the Quarterly Progress Report (QPR). Yet, Gurugram Police has not arrested the builder or other named accused so far.
The FIR registered with Delhi EOW accuses the builder of defrauding thousands of homebuyers and alleges money laundering and fund manipulation within escrow accounts. The complainants have demanded strict action and the immediate arrest of the builder.
The FIR further mentions that Ocean Seven Buildtech Pvt. Ltd.’s fraudulent activities are not limited to Haryana alone. Since 2006–07, the company has allegedly committed similar frauds in Maharashtra (Amchee Mumbai, Neral, Karjat, Raigad) and Rajasthan (Amber Garden, Jaipur; Kot Farms, Kot Residency, and Kot Industrial Estate, Kotputli). The builder’s modus operandi involves collecting money from buyers, halting projects midway, shutting down local offices after a few years, and then reselling the same properties to new buyers. Many buyers even handed over their original documents to the builder under the pretext of refunds, but neither received their money back nor got possession of their properties.
Across India, more than 5,000 buyers have fallen victim to this builder’s fraud. Many have lost their lifetime savings, and some buyers have even passed away waiting for their homes. While property prices have doubled or tripled in five years, these buyers have been left only with deception, mental anguish, and despair. Even this Diwali, their celebrations will be overshadowed by disappointment.
It is also worth noting that the Chairman of HRERA Gurugram closed the hearings of Expressway Towers, Sector 109 after three years and 33 suo moto hearings, claiming a lack of sufficient powers. However, buyers argue that under Section 35 of the RERA Act, the chairman holds powers equivalent to a civil court — including imposing penalties, recommending FIRs, and taking punitive actions. Despite this, three years were wasted, and no action was taken against the builder.
