ED Chargesheets 41 Accused in ₹1,075 Crore ADEL Landmarks Housing Fraud Across Haryana

The Directorate of Enforcement (ED) has filed a prosecution complaint against 41 individuals and entities over a ₹1,000 crore housing fraud involving ADEL Landmarks, which failed to deliver flats across Gurugram, Faridabad, and Palwal.

Filed by the agency's Gurugram Zonal Office before the Special Judge (PMLA) court in Gurugram, the chargesheet names ADEL Landmarks alongside its then directors, Hem Singh Bharana and Sumit Bharana. Following the submission under the Prevention of Money Laundering Act (PMLA), 2002, the Special Court issued formal notices to all accused persons and entities on November 3.

Two Decades of Delays and 4,771 Duped Homebuyers

The central agency launched its money laundering probe based on 74 FIRs and chargesheets registered by police authorities in Haryana and Delhi, including the Economic Offences Wing (EOW). According to police records, the company, its promoters, and associate firms defrauded thousands of buyers by failing to hand over promised flats and units, with delays stretching between 12 and 19 years.

Financial investigators found that ADEL Landmarks collected more than ₹1,075 crore as booking advances from 4,771 customers across multiple residential group housing ventures. The stalled projects—launched between 2006 and 2012—include Cosmocourt, Cosmocity-L, Cosmocity-III, Skyville, Redwood Residency, Era Green World, Era Divine Court, and ADEL Divine Court. All of these developments remain incomplete.

Diversion of Funds and ₹585 Crore Property Attachment

Rather than deploying customer advances to construct the promised apartments, the company's promoters and directors diverted substantial sums to group companies under the guise of advances for purchasing land parcels and other expenses. This systematic siphoning left the core housing projects starved of capital, resulting in the non-delivery of booked flats, plots, and units.

Earlier in the investigation, the ED attached immovable properties spanning 340 acres across Gurugram, Faridabad, Palwal, and Bahadurgarh in Haryana, as well as Meerut and Ghaziabad in Uttar Pradesh. Valued at ₹585.46 crore and held by the accused firm and its related entities, these plots and land parcels were identified as proceeds of crime.

In its newly filed prosecution complaint, the agency has formally sought the confiscation of these attached assets under the provisions of the PMLA, 2002.