The Ahmedabad Zonal Office of the Directorate of Enforcement has provisionally attached immovable properties worth ₹129.80 crore under the Prevention of Money Laundering Act (PMLA), 2002, on August 14, 2026, against Ronak Ravjibhai Sonani, Vipulbhai Gordhanbhai Gangani, M/s Keshav Narayan Group, and others in connection with a real estate fraud case.
The Ahmedabad Zonal Office of the Enforcement Directorate has issued a Provisional Attachment Order on 14.08.2026 under Section 5(1) of the Prevention of Money Laundering Act, 2002. The order has been issued in the case of Raunak Ravjibhai Sonani, Vipulbhai Gordhanbhai Gangani, M/s Keshav Narayan Group and others. The Enforcement Directorate has provisionally attached immovable properties worth Rs 129.80 crore. The case pertains to real estate fraud committed against home buyers and investors in Ahmedabad.
The Enforcement Directorate initiated the investigation based on five FIRs registered at the DCB, Satellite, Navrangpura, and Bopal police stations in Ahmedabad. A charge sheet was also filed against Raunak Sonani, Vipul Gangani, and others for offenses under various sections of the Indian Penal Code, 2023.
The Enforcement Directorate’s investigation revealed that the accused defrauded ordinary homebuyers, small investors, businessmen, and middle-class families. They presented their real estate schemes as genuine projects. They offered flats and shops at attractive pre-launch prices. They also promised guaranteed returns ranging from 54% to 100%.
However, these projects were marketed without necessary approvals such as NA permission and RERA registration. In the Chharodi scheme, approximately 250 buyers/investors were duped. In the Akshar Anant scheme, more than 44 buyers/investors were duped. The promised flats and shops were not delivered. The money taken from buyers was also not returned.
The investigation revealed that the accused operated in a premeditated manner. They lured buyers with false promises, collected funds, diverted the funds, and then attempted to conceal the properties purchased with those funds. In the Chharodi project, buyers were told that RERA registration and NA approval were underway. Later, the land earmarked for the project was simply sold or transferred to Mahendrabhai Patel, Ashish Vishnubhai Patel, and others, leaving buyers in the lurch. In the Akshar Anant project in Shela, MoUs and similar documents were issued to make the project appear genuine. Subsequently, the project was shut down, and the land was transferred to Purav Rameshchandra Patel, Deeprajveersinh Vikramsinh Jhala, Mahendrasinh Pradyumansinh Chudasama, and others. The investigation found that the accused transferred properties to third parties through dummy sale deeds without making actual payments. To make the transactions appear legitimate, fake payment details were shown in the registered documents.
Under this, the Enforcement Directorate has provisionally seized immovable properties acquired through crime. These include 6,603.332 square meters of land in Chharodi, 7,284 square meters of land in Shela, and 30,798 square meters of land in Jesangpura and Agole in Kadi taluka. The total value of the seized properties is ₹129.80 crore.
These properties have been attached to prevent their further sale, transfer, or concealment. This will help protect the interests of defrauded homebuyers and investors. It will also facilitate seizure proceedings under the Prevention of Money Laundering Act and the return of the properties to their rightful owners.
The Enforcement Directorate is committed to tracing and confiscating the proceeds of crime, and protecting the interests of victims and legitimate claimants.
Homebuyers and investors are advised to check RERA registration, legal approvals, title documents, land records, and information about any encumbrances or legal disputes on the property before making any payment. They should also ensure that the property is not mortgaged or embroiled in any disputes. Buyers should not rely solely on verbal promises, booking forms, notarized documents, or brokers. They should insist on a valid agreement or sale deed. Promises of excessive returns, guaranteed buybacks, or unusual discounts should be viewed as red flags. If a builder refuses to produce documents, demands cash, delays registered documents, fails to refund money, or attempts to transfer the project land to a third party, the matter should be reported to law enforcement agencies, RERA, and other relevant authorities.
Further investigation is ongoing.
Radhika Goyal is Author of Taxconcept Gurugram head office, for deeply reported tax, gst and income tax articles on issues that matter. He splits her time between New Delhi and Bengaluru, and has worked as a reporter, a podcaster and an editor for publications across India.