The Enforcement Directorate arrested Avdhesh Kumar Goel, Rajnish Mittal, Atul Gupta, and Vikas Gupta, promoters of Earth Infrastructures Ltd., on June 1. The arrests followed allegations that the company collected ₹2,004 crore from over 19,425 homebuyers and diverted approximately ₹467 crore. A special court granted the ED five days' custody of the accused.
“ED arrests promoters of Earth Infrastructures Ltd. in home buyer fraud case”
Read at The Hindu →No center sources covered this
“₹2,004-crore homebuyer fraud: ED arrests 4 promoters for duping over 19,000 buyers”
Read at Hindustan Times →The case shows predatory practices in India's unregulated real estate sector that harmed middle- and working-class homebuyers.
“Systemic regulatory failures and wealth inequality”
Arrests demonstrate the need for strong institutions and rule of law to protect property rights against fraud.
“Accountability and market discipline through credible deterrence”
State action addresses clear fraud that violated voluntary contracts and individual property rights.
“Punishment of initiated fraud without broader regulatory expansion”
All views accept unproven diversion figures and overlook buyer agency, civil insolvency elements, and external project delays.
“Premature conclusions and selective emphasis on promoter guilt”
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