In a statement, the ED accused RK Arora and his company of cheating people and indulging in a “criminal conspiracy". The ED said the company and its directors cheated buyers by collecting funds against the flats that were booked but failed to give possession to the buyers on time. Thus, “defrauding" the buyers, the FIR said.

Special Public Prosecutor N K Matta, appearing for the ED along with advocate Faizan Khan, told the court that the company and its directors had indulged in a "criminal conspiracy" to cheat people by collecting funds from prospective buyers as advance against flats booked in real estate projects.