ED raids Tashee Group over homebuyer fraud

The Enforcement Directorate (ED) conducted search and survey operations at seven premises in Delhi-NCR on August 19-20, 2026, under the Prevention of Money Laundering Act (PMLA) in connection with an ongoing money-laundering investigation involving Tashee Group and its associated entities. The probe stems from multiple FIRs and chargesheets filed by the India — Economic Offences Wing (EOW) of India — Delhi Police and Haryana — Haryana Police over alleged cheating of homebuyers and investors in the Tashee Capital Gateway Project in Sector 111, Gurugram, and the Orion Galaxy Project (formerly Spire South) in Sector 68, Gurugram. The ED alleges that Tashee Group collected approximately Rs 386 crore from over 600 homebuyers but failed to deliver possession even after 10-15 years. It also alleges misappropriation of about Rs 120 crore of investor funds, including Rs 98 crore invested by the SWAMIH Fund. The investigation revealed that substantial amounts were transferred between interconnected group companies and promoter-controlled entities. The ED is examining the money trail and inter-company transactions to identify proceeds of crime. It also alleged that family members of the main promoter, Kashi Nath Shukla, settled abroad and that he liquidated substantial assets in India over the last 5-10 years, with investments made in foreign entities including an old-age care home in the UK, and one family member applied for citizenship of Saint Kitts and Nevis through investment. During the searches, the ED seized incriminating documents, financial records, digital data, froze bank accounts and FDRs with an outstanding balance of Rs 22 lakh, and seized a luxury car. The investigation is ongoing.