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NOIDA: Nearly six years after Yamuna Authority submitted a complaint against SDS Infracon for allegedly diverting Rs 182 crore of homebuyers’ money and investing it in other companies, the realty firm is set to face a reinvestigation following a recent Allahabad High Court order. A police closure report was filed in the case in 2020 but was challenged by the Authority.
Around 1,400 homebuyers invested in the SDS group’s integrated NRI Township project, spread across 125 acres of land in YEIDA’s Sector 26A, in 2010 and are still waiting for the plots.
An audit of the developer’s financial dealings in Dec 2017 showed that SDS Group had diverted the homebuyers’ money to three firms — SDS Infracon, SDS Infotech Pvt Ltd and Arnava Techno Soft Pvt Ltd.
