Promoters of Ozone Urbana have derived project funds, says Ed

The recent raids about the promoters of the much deferred Realty Project Ozone Urbana Housing Township in Devanahalli Taluk on the outskirts of Bengaluru through the directorate of the enforcement of the group in the enforcement of the project of the project of the project ”

In a statement issued on Sunday, Ed said that during the search activities various incriminating documents with regard to distraction and embezzlement of project funds were found and seized from the various building. Proof of double sale of a few flats was also collected and seized during the investigation, Ed said.

Ed had invaded 10 buildings to the promoter of the Ozone Urbana Infra developers PVT project. Ltd. And the most important management staff in Bengaluru and Mumbai under the prevention of Geld Waswet (PMLA), 2002. The most important promoter of this group is Satyamoorthi Vasudevan, said Ed.

“The study under PMLA, 2002, showed that the accused company together with and the most important management staff has cheated hundreds of gullible customers by taking money from them for the project with the name Ozone Urbana and the failure to deliver promised flats. In the name of various schemes such as return schedules,” Ed said in his statement on Sunday.

The integrated township project had to be transferred to buyers in 2018. However, until 2024, only 49% of the project was completed. The company therefore did not transfer the project or has not returned the money to the buyers.