1 crore cash, diamond, and gold worth over 19 crores found from Noida Authority CEO's property

The Enforcement Directorate has conducted extensive raids on properties associated with former IAS officer and Noida Authority CEO Mohinder Singh, as well as the promoters and directors of Hacienda Projects Private Limited (HPPL). The operation, which began late Wednesday, spanned 12 locations across Meerut, Noida, Goa, Delhi, and Chandigarh.

During the raids, authorities recovered approximately Rs 1 crore in cash, along with diamonds valued at Rs 12 crore and gold worth Rs 7 crore. Singh and the HPPL directors are under investigation for allegedly laundering a staggering Rs 636 crore, following an order from the Allahabad High Court issued in March.

The investigation centers around a land allotment in Sector 107 under a group housing scheme initiated by the Noida Authority in 2010-11. HPPL was created to develop the Lotus 300 residential project, which purportedly collected Rs 636 crore from home buyers without making any initial investment. Allegations suggest that the promoters siphoned off Rs 190 crore and sold a portion of the land to another company, pocketing Rs 236 crore in the process.

These actions left home buyers without their promised apartments and defrauded banks and creditors. Furthermore, the promoters resigned from the company to evade both criminal and civil liabilities. Despite ongoing struggles faced by buyers, the Noida Authority continued to allocate large tracts of land to new companies linked to one of the promoters, raising serious concerns about regulatory oversight.