New Delhi / Gurugram, March 2026 – The Economic Offences Wing of Delhi Police has registered an FIR under Sections 420 and 120B of the Indian Penal Code against Experion Developers Private Limited (EDPL), Experion Capital Private Limited (ECPL), and others, following a formal complaint filed by the Enforcement Directorate under the Prevention of Money Laundering Act, 2002. The FIR arises from what the ED has characterised as a systematic manipulation of the Corporate Insolvency Resolution Process of M/s Dignity Buildcon Private Limited, a company owning approximately 27.86 acres of prime land in Sector 62, Golf Course Extension Road, Gurugram, valued conservatively at over ₹630 crore. Both Experion Capital and Experion Developers are wholly owned subsidiaries of Singapore-based AT Capital Group.
The Alleged Fraud: CoC Capture and Coerced Voting
According to the ED’s complaint, EDPL and its related entity ECPL orchestrated a sophisticated scheme to gain control of Dignity Buildcon’s Committee of Creditors. Through this acquisition, ECPL gained de facto control over Alchemist ARC’s voting discretion in the CoC, giving the Experion group combined influence over approximately 95% of CoC votes. The ED’s complaint records that ECPL wrote to Alchemist ARC, directing it to consult ECPL before voting on any resolution plan. Sachin Gupta, the Authorised Representative of Alchemist ARC, admitted in his statement recorded under Section 50 of the PMLA that ECPL compelled Alchemist ARC to vote in favour of EDPL’s resolution plan. With the CoC under its control, EDPL’s bid of ₹660 crore was approved despite competing bids of ₹760 crore (Madhav Dhir/Alok Dhir) and ₹709 crore (M3M Group) being substantially higher.
The ED found that the Singh brothers diverted ₹150 crore from RFL, which was used to purchase the 27.86-acre land at Sector 62, Gurugram. The land had already been attached by the ED in connection with the diversion confirmed by the Adjudicating Authority under PMLA on August 27, 2021.
Location Context: Sector 62, Golf Course Extension Road
The 27.86-acre land parcel at Sector 62 sits within one of Gurugram’s most premium commercial and residential corridors. Golf Course Extension Road commands among the city’s highest commercial and residential per sq ft rates, making control of this asset through a manipulated insolvency process one of the highest-value alleged CIRP frauds investigated in the NCR to date.
