The Enforcement Directorate conducted searches at more than half a dozen locations in Delhi-NCR in connection with a housing society fraud involving its former president and directors. According to reports from Zee News, the raids by ED's Gurugram unit covered 8 residential and official premises of three individuals named Arun Sharma, Anil Sharma and Mangal Sain Mittal as well as their private business entities across Delhi, Faridabad and Gurugram. The investigation team seized money and valuables amounting to ₹6.63 crore, including unaccounted cash of ₹55 lakh, gold worth ₹1.85 crore, gold jewellery worth ₹1.95 crore, and silver weighing approximately 100 kg worth ₹2.28 crore.
The investigation revealed that Mangal Sain Mittal, the then President of the Society, in conspiracy with Anil Sharma and Arun Sharma (Directors of M/s Connoisseur Infrabuild Pvt. Ltd. /CIPL), fraudulently took control of the society and misappropriated members' funds. As reported by Zee News, the former top office bearers violated stipulated guidelines and illegally sold 34 unauthorised memberships beyond the sanctioned limit of 98 memberships. The accused operated a dual payment mechanism for selling flats and collection through both official bank accounts and in cash, with total collections reaching ₹90.50 crore including amounts received through banking channels as well as cash.
The searches followed an ED investigation into alleged financial and housing fraud, in which these individuals and their associates were booked under various sections of the IPC, 1860. According to Zee News, the ED sleuths discovered and impounded various digital devices, incriminating documents, property documents, audited Financials and details of diversion of funds during the searches. The investigation also found that the former office bearers fraudulently induced forged members, concealed official records, and abandoned the housing project after collecting substantial amounts of money.
The individuals are also under investigation for the illicit diversion of society funds to business entities controlled by them or their associates. As reported by Zee News, several of the accused's relevant bank accounts were frozen during the proceedings. The case involves the Shanti Niketan Co-operative Group Housing Society Ltd (SGHS) and highlights the ongoing enforcement action against housing society fraud in the Delhi-NCR region.
