The Enforcement Directorate (ED) has restored flats, commercial units and plots worth Rs 175 crore to more than 200 homebuyers who had been waiting to get possession of their dream home for over 12 years, the agency said.

The unsold inventory of 354 flats, 17 commercial units and two plots belong to a project named Royal Rajvilas (RRV) in Rajasthan’s Udaipur.

The project’s present market value is about Rs 175 crore, the ED said in a statement issued on Tuesday.

The case pertains to a money laundering investigation against an accused named Bharat Bomb, apart from some others, who are alleged to have cheated the Syndicate Bank (now Canara Bank) to the tune of Rs 1267.79 crore between 2011 and 2016.

The ED had attached properties worth Rs 535 crore in this case in April, 2019 including as

See Full Page