Godrej Properties denies allegations amid ED probe into fraud, money laundering claims

Godrej Properties has denied allegations of fraud and money laundering, calling them “baseless” and the result of a dispute with a disgruntled joint venture partner. The company stated in response to an ongoing investigation by the Enforcement Directorate (ED) into a housing project linked to the real estate firm.

The ED has reportedly expanded its probe to examine potential money laundering activities after initially taking over the case from the Economic Offences Wing (EOW) of the Delhi Police. Sources say the investigation stems from a complaint filed by M/s ORRIS Infrastructure Private Limited, alleging fraud between January 1, 2016, and May 29, 2024.

According to sources, the ED has already interrogated Tarun Chadha, identified as a Project Director at Godrej Properties. Another official, Gaurav Pandey, has been summoned twice but has yet to appear, and a fresh summons is expected to be issued.

In its statement, Godrej Properties said the allegations have been examined by multiple investigative agencies, including the EOW and the Central Bureau of Investigation (CBI), and no evidence of wrongdoing has been found. “The same unfounded allegations have also been examined by various premier investigative agencies in the country. In every instance, after a thorough investigation, no evidence of wrongdoing has been found,” the statement read.

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The company expressed confidence in the ED’s procedures and said it expects a similar outcome from the current inquiry. It further accused the joint venture partner of attempting to coerce the company into meeting unreasonable demands.

“We strongly believe this is an attempt by the joint venture partner to coerce Godrej Properties into acceding to unreasonable demands. We will be taking appropriate legal action to hold the joint venture partner accountable for its malicious actions,” the statement added.

The case was initially registered by the EOW on May 29, 2024, following instructions from the Dwarka Court in Delhi.

Disclaimer: The story has been changed to reflect the company’s statement on the issue.