Godrej Properties, a prominent name in India’s real estate sector, is currently under scrutiny by the Enforcement Directorate (ED). The investigation revolves around allegations of fraud and money laundering tied to a housing project managed by the company. The accusations were made by ORRIS Infrastructure Private Limited, a former joint venture partner, which claimed fraudulent activity took place between January 2016 and May 2024.
The ED has already questioned one of Godrej Properties’ project directors regarding the allegations. Another senior official was summoned twice but did not appear, prompting the ED to plan issuing a fresh summons. The inquiry follows a formal complaint by ORRIS Infrastructure, which initially brought the matter to the Economic Offenses Wing (EOW) earlier this year.
Despite the ongoing probe, Godrej Properties has strongly refuted the claims, asserting that they are unfounded and intended to harm its reputation.
Godrej Properties Calls Allegations Baseless
In its official response, Godrej Properties called the accusations “baseless” and alleged that they stem from a commercial dispute with ORRIS Infrastructure. According to the company, the joint venture partner is “disgruntled” and is attempting to coerce Godrej Properties into meeting unreasonable demands by escalating the civil disagreement to criminal allegations.
The company assured the public that similar claims had been investigated in the past by premier investigative agencies like the Central Bureau of Investigation (CBI) and the Economic Offenses Wing (EOW). These investigations concluded without finding any wrongdoing by Godrej Properties.
In a statement, the company expressed confidence in the current investigation, saying, “We have full faith in the Enforcement Directorate and its procedures. We are confident that this inquiry will also reach the same conclusion as previous investigations—that there is no evidence of misconduct.”
Godrej Properties also emphasized its commitment to transparency and ethical business practices. The company stated that the current accusations are an attempt to tarnish its image, adding, “We strongly believe this is an attempt by the joint venture partner to coerce us into acceding to unreasonable demands.”
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Civil Dispute Behind the Case
The roots of this case trace back to a civil dispute between Godrej Properties and ORRIS Infrastructure. On May 29, 2024, the EOW registered the complaint based on directions from the Dwarka Court in Delhi. The case was subsequently escalated, leading to the ED’s involvement.
Godrej Properties has made it clear that it plans to take legal action against ORRIS Infrastructure for what it calls “deliberate attempts to tarnish our reputation.” The company is confident that it will be vindicated once the investigation is completed.
In its statement, Godrej Properties noted that it has been transparent in all dealings and maintains a high standard of corporate ethics. It accused its joint venture partner of leveraging baseless accusations to gain leverage in an ongoing commercial disagreement.
The company stated, “These allegations have already been reviewed by premier investigative agencies, and in every instance, no evidence of wrongdoing was found. The current inquiry arises from the same baseless allegations, and we are confident in our ability to demonstrate our integrity once again.”
Past Investigations Provide Relief
This is not the first time Godrej Properties has faced scrutiny. The company has been investigated multiple times in the past, including by the CBI and the EOW. In all instances, thorough probes resulted in closure reports that found no evidence of fraud or misconduct.
Godrej Properties reiterated that it is committed to cooperating fully with the ED’s investigation and is confident in the agency’s ability to conduct a fair and thorough inquiry. The company remains steadfast in its belief that the allegations are baseless and driven by ulterior motives.
Meanwhile, the ED continues its investigation, with further updates expected as more officials are questioned and evidence is reviewed. Godrej Properties has assured stakeholders and the public that it will protect its reputation and take legal action against the complainants for their baseless claims.
For now, the real estate giant awaits the outcome of the investigation while maintaining that it has done no wrong and that the truth will ultimately prevail.
