The Delhi High Court on Thursday dismissed the anticipatory bail application filed by builder Nayan N Raheja in a money laundering case filed by the Enforcement Directorate (ED).

Justice Amit Bansal rejected Raheja's anticipatory bail plea.

A detailed order is awaited.

ED is probing a case involving the alleged diversion of funds collected from homebuyers of projects developed by Raheja Developers.

It is alleged that nearly ₹2,699 crore was collected from homebuyers, of which around ₹1,353 crore was allegedly diverted through various accounts, group entities and related transactions.

The agency alleged that Raheja repeatedly failed to appear before investigators despite summons issued under Section 50 of the Prevention of Money Laundering Act (PMLA) and undertakings given before courts to cooperate with the probe.

Senior Advocate Vikas Pahwa with advocates Sandeep Kapur, Manmeet Kaur, Irfan Muzamil, Jasmeet Singh, Rishabh Munjal, Priyal Jain, Kholi Rakuzhuro and Kunal Kochar appeared for Nayan Raheja.

Advocates Rajat Nair, Sarthak Maan and Dhruv Pande represented the ED.