Karnataka High Court refuses to quash money laundering proceedings against real estate firm Ozone Urbana Infra Developers

The High Court of Karnataka has refused to quash criminal cases and money-laundering proceedings against Ozone Urbana Infra Developers, a Bengaluru-based builder and developer, and its promoters on allegations of cheating homebuyers by collecting huge advances from them and diverting funds on a large scale for purposes alien to the construction of the promised apartments.

Justice M. Nagaprasanna passed the order while dismissing petitions filed by the company and its promoters, Vasudevan Sathyamoorthy, his wife Prua Vasudevan, and others. The petitioners had challenged FIRs registered on complaints filed by aggrieved homebuyers and two Enforcement Case Information Reports (ECIRs) registered by the Enforcement Directorate (ED) in 2022 and 2025, as well as the ED’s provisional attachment of assets worth ₹423.38 crore.