ED Raids Orris Infrastructure in ₹500 Crore Real Estate Fraud, Seizes Luxury Cars and Bank Guarantees

Enforcement Directorate (ED) recently made a major raid at Orris Infrastructure Private Limited office. Orris Infrastructure Private Limited had a case of alleged fraud involving over ₹500 crores in real estate dealings. It seized multiple documents, several luxury cars, some fixed deposits (FD), and a bank guarantee of ₹31.22 crores. These assets, reportedly, were registered in the name of the Orris Group of Companies.

The ED froze bank accounts and lockers related to company promoters during investigation. Meanwhile, raids were held at a director's residential location and four luxury cars-models of Mercedes, Porsche, and BMW-from his office were seized on 25 November 2023, under the prevention of Money Laundering Act of 2002 in connection with searches done by the ED at 14 places located in Delhi-NCR.

The ED action targets primarily the promoters and directors of Orris Infrastructure namely Vijay Gupta and Amit Gupta and the officials of Three C Shelters Private Ltd, which includes the promoter Nirmal Singh Uppal and Vidur Bhardwaj who is a promoter of Three C Shelters Private Limited. The companies have faced various charges like fraud, criminal breach of trust, cheating hundreds of homebuyers, and investors.

The fraud is the housing project in Sector 89, Gurugram. This was an associate company between Orris Infrastructure and Three C Shelters but the projects were not accomplished within time. Many have lost and investors have ended up on the wrong end of it. ED investigating this claim of a serious plan for deceiving investors from getting their money.