No Land or Funds Transferred From WTC, says Bhutani Infra, Supports ED Probe

New Delhi, March 4, 2025: Bhutani Infra has set the record straight in connection with the ongoing Enforcement Directorate investigation into alleged financial irregularities by the WTC Group and Bhutani Infra. Bhutani Infra has said that it severed all ties with the WTC Group earlier this month and is now fully cooperating with the Enforcement Directorate (ED) in its investigation. The company has emphasized that it has no financial or operational connections to WTC, and any suggestion to the contrary is entirely false and misleading.

The ED investigation began last week with search operations at 12 locations in the National Capital Region, targeting both the WTC Group and Bhutani Infra under the Prevention of Money Laundering Act 2002. The ED action came on multiple FIRs across the NCR alleging criminal breach of trust, fraud and cheating.

In a statement, Bhutani Infra said: “No land or funds were transferred to Bhutani Infra during its brief association with WTC, including any shares transfer in any land holding companies to Bhutani Infra or its directors. The company severed all ties with the WTC Group earlier in February after just six months of signing an MoU in July last year.”

The company has emphasized it has no financial or operational connections to WTC, and that neither the company nor its directors received any land or funds or shares in land holding companies from WTC during the period. Any suggestion to the contrary is entirely false and misleading, Bhutani Infra has said. Having completely withdrawn from any association with WTC in early February, Bhutani Infra says it unconnected to the ongoing controversy.

In addition, Bhutani Infra has said it has been offering support and guidance to distressed customers despite having no obligations related to WTC, while fully assisting the ED with necessary information in its ongoing investigation and will continue to fully cooperate with them for any information as and when required.