Informative

ED raids on promoters of defaulting realty project Ozone Urbana in Bengaluru, Mumbai

Update / Judgement Date

01 Aug 2025

Source

The Hindu

Author

Team — WCP Legal Desk

Reading Time

1 min read

Criminal LawRERA & Property Act

The Enforcement Directorate (ED) has conducted raids on the promoters of a defaulting realty project, Ozone Urbana, in Bengaluru and Mumbai. The raids were conducted as part of a money laundering probe, with allegations of siphoning off funds. The ED's action underscores the government's crackdown on real estate developers who fail to deliver projects on time and allegedly misuse homebuyers' funds. The raids are a significant step towards holding such promoters accountable and recovering the funds.

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ED raids on promoters of defaulting realty project Ozone Urbana in Bengaluru, Mumbai

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