New Delhi: Delhi’s Patiala House court has granted 14 days’ custody of a builder accused in a money laundering case linked with PM Awas Yojana (PMAY). It is reported that Swaraj Singh Yadav, the promoter of Seven Ocean Buildtech Pvt. Ltd. (OSBPL), was arrested.
It is alleged that allotment made to homebuyers under PMAY was cancelled fraudulently, and the same flats were sold at higher prices. It is alleged that Rs. 222 crore of homebuyers’ funds were defrauded.
Yadav was produced at the residence of the Special Judge after midnight on Thursday.
Special Judge Shefali Barnala Tandon of Patiala House Court granted 14 days’ custody of Swaraj Singh Yadav at 6 am on Friday.
The special judge Tandon said in her order, “Even perusal of grounds of arrest reveals that there exists a grave apprehension that the arrestee Swaraj Singh Yadav may attempt to abscond and evade criminal proceedings and financial liabilities. He has confirmed that his wife, Sunita Swaraj, relocated to the United States of America (USA) in August 2025 and is currently residing at Harvard University, Boston, Massachusetts.”
“His younger daughter and son are pursuing graduation at Trinity College, Hartford, Connecticut, USA. The overseas residence of his immediate family members and the reported diversion of funds abroad substantially increase the flight risk associated with him. His custodial interrogation is necessary for the purpose of confronting him with the statements of various individuals,” the court further said.
It is stated that “OSBPL had launched the Gurugram project in December 2016 under the PMAY (Urban). It was not completed despite collecting Rs 217 crore from over 1,000 homebuyers”.
The ED has alleged that Swaraj Singh Yadav and OSBPL have been involved in a nationwide money laundering scam since 2006 and are allegedly defrauding buyers in several locations across India, including Mumbai, Jaipur, Kotputli, and Gurugram.
