The Enforcement Directorate’s 2 October update reported the arrest of Ozone Urbana promoter S. Vasudevan on 30 September and said a Bengaluru Special Court granted 14 days of ED custody on 1 October. The agency’s allegations are still under investigation; the release does not decide the status of any individual buyer’s home.
What the ED says
In its press release, the ED says its Bengaluru Zonal Office arrested Vasudevan under the Prevention of Money Laundering Act in an investigation involving Ozone Urbana Infra Developers and others. The agency says the arrest followed multiple FIRs registered in Bengaluru and a separate CBI case.
The ED alleges that buyers paid money for units that were not delivered and that some deposits were not returned. It puts the alleged homebuyer loss at ₹927.22 crore. These are claims made by the investigating agency, not a final court finding. The release says the investigation is continuing.
The custody step is not a verdict
The ED says Vasudevan was produced before the Special Court (PMLA), Bengaluru, on 1 October and that the court granted 14 days of ED custody for further investigation. An arrest and a custody order are procedural events. They do not establish guilt, guarantee a refund, or determine the status of a particular apartment.
The press release also does not provide a complete current list of affected projects or units, a completion timetable, or a buyer-by-buyer remedy. Those details need separate project records and official case updates.
What a buyer can check
Anyone trying to understand a specific unit should compare the project and phase named in their agreement with the project’s current RERA record, sanctioned plans and dated construction or possession disclosures. The ED release alone cannot confirm that a particular buyer or project is included in the allegations.
BestProp.ai has also covered a separate Bengaluru RERA compensation order. That was a different proceeding and is not evidence about Ozone Urbana or this investigation.
Source and status
The primary source is the ED’s 2 October press release; The New Indian Express’s report provides same-day local reporting context. This article reports the agency’s account and preserves the distinction between allegations, a custody step and a final adjudication.