Godrej Properties emerged as highest bidder for 4.95-acre residential land parcel in Sector 151, Noida for ₹331.75 crore. Proposed residential project expected to have revenue potential of over ₹2,000 crore.

The Enforcement Directorate (ED), Lucknow Zonal Office, attached 389 immovable properties valued at Rs 240.03 crore (present market value over Rs 700 crore) belonging to Bhasin Infra under the Prevention of Money Laundering Act, 2002.

Attachments included:

• 5 properties in Goa worth Rs 37 crore in names of India Oceanworld Pvt. Ltd. and Goa Connect Properties Pvt. Ltd.
• 384 commercial units/shops in Grand Venice Mall, Greater Noida, valued at Rs 203 crore, diverted to Grand Express Developers Pvt. Ltd.

Director Satinder Singh Bhasin launched the Grand Venezia Commercial Complex at Surajpur, Greater Noida, and induced investors with false assurances of returns and timely possession. After collecting substantial sums, neither possession was delivered nor refunds made to hundreds of investors.

Customer advances were routed through related Bhasin Group entities including Niche Builders & Contractors Pvt. Ltd. to obscure money trail, then used to acquire high-value real estate in Goa. The 4,25,152 sq. ft. of commercial space (384 units) was diverted using forged and back-dated agreements to place assets beyond reach of Corporate Insolvency Resolution Process pending before NCLT.

Bhasin was arrested in May 2026. Earlier search operations in April 2025 seized incriminating documents, digital devices, and Rs 36 lakh cash, with a bank account frozen. Property worth Rs 27 crore was provisionally attached in June 2025.

The Supreme Court bench of Justices Sanjay Kumar and K Vinod Chandran dismissed appeals by erstwhile directors including Satinder Singh Bhasin. The court found that construction was incomplete and no units could be delivered without fulfilling necessary formalities.

The National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) decisions were upheld as having no error.

The case originated from a 2021 petition by 141 allottees of Grand Venezia Commercial Tower in Greater Noida. Allottees alleged possession was promised by May 2013 but units were unfit for occupation and lacked a completion certificate from the Uttar Pradesh State Industrial Development Authority (UPSIDA). Developers stopped paying promised assured returns from 2014 onwards despite repeated assurances. The company petition involved 103 units for which allottees had paid substantial consideration but units were neither completed nor delivered.

Supreme Court bench of Justices Sanjay Kumar and K Vinod Chandran dismissed appeals by erstwhile directors including Satinder Singh Bhasin, upholding corporate insolvency resolution proceedings against Bhasin Infotech and Infrastructure Private Limited and Grand Venezia Commercial Towers Private Limited.

The court held developers failed to deliver functional units and misled the court on project completion. The bench rejected claims that construction was completed and possession delivered, stating "the ground reality is otherwise. Neither has the construction been completed nor could possession of units be delivered to the allottees without fulfilling all necessary formalities."

The National Company Law Tribunal admitted the insolvency petition in December 2023, subsequently upheld by the National Company Law Appellate Tribunal.

Case originated from 2021 petition by 141 allottees of Grand Venezia Commercial Tower. Allottees alleged possession was promised by May 2013 but units remained unfit for occupation, lacked completion certificate from Uttar Pradesh State Industrial Development Authority (UPSIDA), and developers stopped paying "assured returns" in 2014.

Court verdict found 103 units petitioned against both corporate debtors. Allottees established financial debt and default as units were not made ready and delivered despite valuable consideration paid.

A cinema hall in Grand Venice Mall, Greater Noida was sealed over non-payment of dues amounting to Rs 1.95 crore.