Home / Crime and Justice / Gurugram Realty Firm Accused of Defrauding Homebuyers of Over ₹500 Crore
Gurugram Realty Firm Accused of Defrauding Homebuyers of Over ₹500 Crore
27 Aug
Summary
- ED investigating Krrish Realtech and promoter Amit Katyal for fraud
- Firm collected ₹500 crore from homebuyers but diverted ₹205 crore to Sri Lanka hotel
- Katyal arrested in separate money laundering case related to railways land-for-jobs scam
As of August 27, 2025, the Enforcement Directorate (ED) is investigating Krrish Realtech, a Gurugram-based realty group, and its promoter Amit Katyal for allegedly defrauding homebuyers of over ₹500 crore. The ED's investigation has found that the accused company collected more than ₹500 crore from over 400 customers for housing plots, but then diverted around ₹205 crore of these funds to a real estate-cum-hotel project in Sri Lanka's capital Colombo.
Notably, Katyal was arrested by the ED last year in a separate money laundering case related to the railways alleged land-for-jobs scam involving RJD chief Lalu Prasad, his wife Rabri Devi, and other family members. The ED has stated that the "proceeds of crime" generated from the alleged fraud were "immediately diverted" to the personal accounts of Katyal and other "shell" companies beneficially owned by him and his family members.
The agency's probe also revealed that Katyal's son, who has taken citizenship of Saint Kitts and Nevis, is claiming "beneficial ownership" of the assets located in Sri Lanka. The ED has conducted searches in this case and attached assets, including the realty project in Sri Lanka and lands in Gurugram.
