The ED took action based on several first information reports (FIRs) registered by various investigating agencies, including the Economic Offenses Branch and the Central Bureau of Investigation. File | Photo credit: The Hindu
The Enforcement Directorate (ED) has conducted a search against the Piyush Group of Companies and its former backers in connection with an alleged real estate scam case.
“The searches included the premises of former promoters, current problem solvers, directors and former MLA of Haryana, Mahendra Pratap Singh, a partner in a commercial project through a JV (Joint Venture), which was suspected to have been built with funds of house and flat buyers siphoned off from other projects,” the agency said on Saturday (January 17, 2026).
The ED took action based on several first information reports (FIRs) registered by various investigating agencies, including the Economic Offenses Branch and the Central Bureau of Investigation.
They claim that the promoters induced investors and home buyers to invest in various projects by offering them assured returns and early possession. Despite collecting substantial amounts for reservation, they have not delivered the projects as promised. The FIRs also allege that he is fabricating and falsifying documents, allotting the same unit to multiple buyers and fraudulently selling mortgaged land without obtaining bank approval.
Both the companies are currently undergoing insolvency proceedings for unfinished projects at Palwal, Faridabad, Bhiwadi, Dharuhera and other locations in Haryana. The group has raised over ₹600 million between 2010-2018. More than 2,000 homebuyers/victims are reported to have been affected.
“The Piyush Group, backed by the late Anil Goyal and his sons, the late Puneet Goel and Amit Goel, was involved in residential and commercial property development in Haryana and Rajasthan… key group companies, including Piyush Colonizers Limited and Piyush Shelters India Pvt. Ltd., have been admitted to a major Corporate Insolvic Resolution of Funds (CIRP) audit. ED alleged.
Published – 17 Jan 2026 21:45 IST
