The Economic Offences Wing (EOW) of Mumbai Police has registered an FIR against Ecstasy Realty Private Limited — a defaulting borrower of Edelweiss Asset Reconstruction Company Limited (EARCL) — along with its key promoters and associated entities, for alleged large-scale financial fraud.

Those named in the FIR include Shobhit J. Rajan (promoter-director of Ecstasy Realty), Naresh Bajaj, Pulin Bole, Pranav Bajaj, Shivani Verma, and related companies, including Prabal Infra Agro Farms Pvt. Ltd. and Maharashtra Eco Green Pvt. Ltd.

The case follows a detailed complaint filed by Edelweiss ARC, stating that Rs 600 crore was raised by Ecstasy Realty through secured Non-Convertible Debentures (NCDs) to fund a residential project named Parthenon.