ED arrests Ozone Urbana Infra Developer’s CMD in ₹927.22 crore homebuyer alleged fraud case. When Is ED Going To Arrest Harresh Mehta in ₹280 Crores SBI Bank Scam?

The provided text examines contrasting outcomes and processes within India's financial-enforcement system through two distinct alleged fraud cases. One case involves an alleged ₹927.22-crore homebuyer fraud linked to Ozone Urbana Infra Developers, where authorities moved swiftly to arrest the promoter, attach assets, and seek custody. The second case centers on an alleged ₹280-crore State Bank of India loan fraud involving Rohan Developers chairman Harresh Mehta, which has faced years of investigation without a final criminal conviction.

According to reports, the Enforcement Directorate arrested S. Vasudevan, the chairman and managing director of Ozone Urbana Infra Developers, after finding that approximately 1,351 homebuyers paid money for apartments that were never delivered. Investigators alleged that project funds were diverted through group entities and associated persons, leading to the provisional attachment of immovable properties worth approximately ₹423.378 crore. The accused developer was produced before a special court in Bengaluru and remanded to custody.

In the separate bank-fraud matter, the Central Bureau of Investigation arrested Harresh Mehta in May 2023 following an investigation into lending transactions dating back to 2011 and 2012. Although the CBI had previously filed a chargesheet in 2018 against other individuals while initially treating the chairman as a witness, further investigation changed his status to an accused. He was subsequently granted bail by a special court, leaving questions regarding the final criminal outcome and the status of related financial transactions.

Not yet reported: The articles do not provide the final court judgments or trial outcomes for either of the criminal cases.