India's ED freezes ₹423 crore in assets of Ozone Urbana and its promoter over alleged misappropriation of homebuyers' funds.

The Enforcement Directorate has provisionally attached ₹423.38 crore in assets belonging to Ozone Urbana Infra Developers and promoter S. Vasudevan over allegations of misappropriating ₹927.22 crore from homebuyers. The company is accused of collecting payments for residential units without completing projects or refunding money, with funds diverted to related entities and personal accounts. Investigations, prompted by multiple FIRs and a Supreme Court-directed CBI probe, found evidence of fund diversion during August raids. Attached assets include unsold flats, commercial land, and personal properties. The ED says the move protects homebuyers’ interests as the case continues.