News Snacks

Delhi High Court Rejects Anticipatory Bail Plea of Builder Nayan Raheja in ₹2,425 Crore Money Laundering Case

Court cites repeated non-cooperation with ED and failure to meet bail conditions under PMLA

Allegations include diversion of thousands of crores collected from homebuyers through Raheja Developers

By Legal Reporter

New Delhi: October 16, 2026:

The Delhi High Court has denied anticipatory bail to real estate businessman Nayan Raheja in a high-profile money laundering case, citing his repeated non-cooperation with the Enforcement Directorate (ED) and failure to meet the strict bail conditions under the Prevention of Money Laundering Act (PMLA).

Justice Amit Bansal emphasized that Raheja’s conduct, including ignoring nine summons and avoiding personal appearances, weighed heavily against granting him relief.

Case Background

• Applicant: Nayan N. Raheja, former director of Raheja Developers Ltd.
• Case Origin: ED registered a case in March 2022 based on multiple FIRs filed by the Economic Offences Wing (EOW) and Gurugram Police against Raheja Developers.
• Allegations:
  • Nearly ₹2,699 crore collected from homebuyers, of which ₹1,353 crore allegedly diverted through group entities and related transactions.
  • ED claims ₹2,425.99 crore in proceeds of crime, with funds routed to related companies and used for non-project purposes.

Court’s Observations

• Non-cooperation: Raheja failed to appear before the ED since April 2026, despite nine summons.
• Evidence: An iPad seized from his wife’s residence allegedly contained incriminating project details, showing his involvement despite no formal position in the company.
• Legal Grounds:
  • Bail under PMLA requires satisfying twin conditions: proving innocence and ensuring no future involvement in money laundering.
  • The court held Raheja failed both conditions.

Key Legal Points

• Section 50 of PMLA: Requires personal appearance before ED; video conferencing requests were rejected.
• Custodial Interrogation: ED argued it was necessary to confront Raheja with evidence and trace fund diversion.
• Previous Rulings: His bail plea was earlier dismissed by the Saket District Court on September 19, 2026.

Implications

• For Homebuyers: Thousands of buyers remain affected as diverted funds allegedly stalled housing projects.
• For Real Estate Sector: The case highlights growing scrutiny of developers under money laundering laws.
• For Enforcement: Strengthens ED’s stance on strict compliance and custodial interrogation in financial fraud cases.

FAQs

Q1: Why was Nayan Raheja denied bail?

Because he failed to cooperate with ED investigations, ignored summons, and did not meet bail conditions under PMLA.

Q2: How much money is allegedly involved?

The ED alleges diversion of ₹2,425.99 crore, collected from around 4,600 homebuyers.

Q3: What evidence was found?

An iPad seized in April 2026 contained detailed project cost and inventory records linking Raheja to company operations.

Q4: What happens next?

The ED will continue its investigation, and Raheja may face custodial interrogation to trace fund flows and ultimate beneficiaries.