March 30, 2025 - 17:51
The Enforcement Directorate (ED) in Mumbai has seized ₹19.61 crore in assets from Karrm Developers due to allegations of financial misconduct related to an affordable housing project. The action is part of an ongoing investigation into a significant housing scam that has raised concerns about the integrity of real estate practices in the region.
The ED's move comes after reports surfaced about irregularities in the funding and execution of the housing project, which was intended to provide affordable living options to residents. Investigators have been scrutinizing the financial transactions of Karrm Developers and its associates, including connections to prominent figures in the industry.
The seizure of assets underscores the government's commitment to tackling corruption and ensuring accountability in the real estate sector. As the investigation unfolds, it is expected to shed light on the broader implications of the housing scam and its impact on potential homebuyers. The ED has urged the public to remain vigilant and report any suspicious activities related to real estate dealings.
