New Delhi, Nov. 15 -- A Delhi court has granted the Enforcement Directorate (ED) fourteen days of custodial remand of builder Swaraj Singh Yadav in a money laundering case linked to an alleged Rs 222 crore fraud.
The ED sought remand for Yadav, the promoter of Ocean Seven Buildtech Pvt. Ltd. (OSBPL), arguing that he was the "central figure" in a scam that duped thousands of homebuyers across India. The agency told the court that custodial interrogation was necessary to trace the proceeds of crime, uncover the complete modus operandi, and identify other accomplices.
The ED initiated PMLA investigation based on multiple FIRs registered by the Delhi police for cheating and criminal conspiracy.
The ED alleges that Yadav and his company illeg...