ED Freezes Rs 44 Crore Delhi Property in Bhasin Infotech Fraud Case

The Enforcement Directorate (ED) has provisionally attached a luxurious residential property in west Delhi, valued at Rs 44.06 crore, under the Prevention of Money Laundering Act (PMLA), 2002, in connection with a fraud case involving Bhasin Infotech and Infrastructure Pvt. Ltd. (BIIPL). The property, located at D-24, Rajouri Garden, is registered in the name of Satinder Singh Bhasin, the main accused and director of BIIPL.

The ED’s Lucknow office launched the probe after claims surfaced that BIIPL swindled investors out of huge sums through shady real estate deals. Back in 2015, when the first police complaint was filed in Noida, the property was valued at Rs 27.01 crore, but its worth has skyrocketed since.

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• Lavish West Delhi Property Attached in Real Estate Money Laundering Case

Investigators say Bhasin funneled ill-gotten money through a web of companies he controlled with associates Harpreet Singh Chhabra and Ajay Dhawan, making it tough to track the funds.

The case kicked off with complaints filed by Uttar Pradesh Police’s Economic Offences Wing, accusing BIIPL of misusing investor money meant for real estate projects. The ED alleges Bhasin used the scam’s profits to buy the upscale property, now flagged as part of the illegal gains. This seizure is a big move in the agency’s push to recover the defrauded cash and hold those responsible accountable.

This isn’t the ED’s only crackdown in the real estate world. Recently, they’ve gone after companies like Jaypee Infratech and WTC Group for similar fraud claims. Insiders say more assets linked to BIIPL could be targeted as the investigation deepens.

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Bhasin and his associates haven’t commented publicly on the seizure. The ED’s action is a clear warning to real estate firms dabbling in financial wrongdoing, as authorities ramp up efforts to stamp out money laundering in India’s property market.