CMD of Ozone Urbana arrested in Bengaluru over alleged ₹927 crore scam from home buyers

The Enforcement Directorate (ED) arrested S. Vasudevan, CMD and founder of Ozone Urbana Infra Developers Private Limited, in connection with a scam involving house buyers in Bengaluru. The ED Bengaluru Zone Office arrested him on September 30. Vasudevan was presented before the Bengaluru Special PMLA Court and granted 14 days of ED custody for questioning. The ED alleges that the company and its founder collected approximately ₹927.22 crore from home buyers, who were unable to receive flats in a timely manner.