The Enforcement Directorate (ED) conducted coordinated raids on April 13 and 14, 2026, targeting seven locations linked to the 32nd Avenue Group across Delhi-NCR, Goa, and Mumbai. The operation, part of a high-profile money laundering investigation, resulted in the seizure of ₹1.05 crore in cash and ₹1.5 crore in gold bullion and jewelry. The agency also froze several lockers and bank accounts while securing incriminating digital devices and property deeds.
Case allegations and background
The probe originates from multiple FIRs alleging a sophisticated fraud totaling approximately ₹500 crore. Promoter-directors Anubhav Sharma and Dhruv Sharma are accused of orchestrating a “multiple-allotment” scam, where rights to the same commercial or residential units were allegedly sold to several unsuspecting investors. Investigative reports suggest that the 32nd Avenue network—a prominent name in Gurgaon’s luxury commercial landscape—was used to layer illicit funds through complex ownership structures to evade regulatory detection.
Legal and financial implications
This case marks a significant escalation from a real estate dispute to a full-scale financial crime investigation under the Prevention of Money Laundering Act (PMLA). The ED is currently tracing the “proceeds of crime” to determine if investor funds were diverted into offshore entities or other luxury assets. With the promoters reportedly evading authorities, the agency is expected to initiate formal asset attachment proceedings shortly. This crackdown reflects a broader regulatory push to address the lack of transparency and systemic fraud in high-value real estate developments.