Gurugram's Orris group in ED net for alleged Rs 500-cr fraud

The Enforcement Directorate (ED) has cracked down on Orris Infrastructure Pvt Ltd for an alleged Rs 500-crore fraud in the development of a group housing project 'Greenpolis' in Sector 89 here.

Issuing a statement today, the ED said on November 25 it had carried out a raid on the premises of the realtor across 14 locations in Delhi-NCR and seized several documents from the builder’s office, along with luxury cars and fixed deposits and bank guarantees worth Rs 31.22 crore.

Bank accounts and lockers of the company's promoters had also been frozen and four luxury cars seized from the residence of one of the group's directors and promoters. The operation was aimed at Orris' directors and promoters Vijay Gupta and Amit Gupta, as well as Three C Shelters Private Limited, and its promoters and directors Nirmal Singh Uppal and Vidhur Bhardwaj.

The ED initiated its probe against them on the basis of two FIRs registered by the Economic Offences Wing of the Delhi Police. The FIRs were registered following complaints by homebuyers and investors, alleging cheating, criminal breach of trust, and fraud.

Greenpolis is spread across 47 acres owned by the Orris group. Subsequently, the development rights for the project were granted to Three C Shelters Private Ltd.

"It is alleged that Orris Infrastructure Private Limited, through its promoters and directors, in collusion with Three C Shelters Private Limited and its promoters and directors, conspired to siphon off the hard-earned money of homebuyers by failing to complete the project within the stipulated time and by not delivering residential units to homebuyers and investors," the ED's statement read.