Ozone Urbana MD S Vasudevan Remanded in ED Custody in Rs 927-Cr Fraud Case

Ozone Urban Infra MD held over Rs 927 cr buyers’ funds diversion

Bengaluru: The Enforcement Directorate (ED) has arrested Ozone Urban Infra Developers Pvt Ltd Chairman and Managing Director S. Vasudevan in a money laundering investigation linked to an alleged Rs 927.22 crore financial fraud involving homebuyers. The ED arrested Vasudevan on September 30 under the Prevention of Money Laundering Act, 2002. He was subsequently produced before … Get the latest updates in Hyderabad City News, Technology, Entertain…

Money laundering case: ED arrests Ozone Urbana CMD for cheating homebuyers of over ₹927 crore

ED arrests Ozone Urbana CMD S. Vasudevan in ₹927 crore money laundering case involving homebuyers; probe spans CBI filings, asset seizures, and fraud allegations.

ED arrests Ozone Urbana CMD in Rs 927-crore homebuyer money laundering case

According to ED, Ozone Urbana allegedly lured homebuyers by offering a scheme to pay pre-construction EMIs until possession of the flats was handed over, but later failed to keep its word.

Ozone Urbana MD S Vasudevan remanded in ED custody in Rs 927-cr fraud case

S Vasudevan, chairman of Ozone Urbana Infra Developers, was arrested for alleged money laundering activities. The Enforcement Directorate claims he cheated homebuyers out of nearly Rs 927.22 crore by failing to deliver apartments. Investigations reveal that the company collected funds but did not refund deposits to buyers. The ED has also attached properties worth Rs 423.37 crore during the investigation.

ED Arrests Ozone Urbana Infra Developer's CMD in Rs 927.22 Crore Homebuyer Alleged Fraud Case

Get latest articles and stories on India at LatestLY. Vasudevan was arrested on September 30 under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002, in connection with the money laundering investigation being conducted against Ozone Urbana Infra Developers Pvt Ltd and Others.  India News | ED Arrests Ozone Urbana Infra Developer's CMD in Rs 927.22 Crore Homebuyer Alleged Fraud Case.

ED Arrests Ozone Urbana Infra Developer’s CMD In ₹927.22 Crore Homebuyer Alleged Fraud Case. When Is ED Going To Arrest Nayan Raheja Of Raheja Developers?

On 3 October 2026, ANI’s copy of an Enforcement Directorate statement landed on ET Realty with a clean headline: the Bengaluru Zonal Office had arrested S. Vasudevan, chairman and managing director and main promoter of Ozone Urbana Infra Developers Pvt Ltd, in a homebuyer case the agency puts at ₹927.22 crore. He was picked up …