NEW DELHI: The Enforcement Directorate’s Lucknow Zonal Office has provisionally attached 389 immovable properties valued at ₹240.03 crore under the Prevention of Money Laundering Act, 2002, concerning a money laundering case involving Bhasin Infotech and Infrastructure, Grand Venezia Commercial Towers, Satinder Singh Bhasin, and others.
The agency noted that the current market value of the attached properties exceeds ₹700 crore.
The assets seized include five properties in Goa, valued at ₹37 crore, owned by India Oceanworld and Goa Connect Properties.
Additionally, 384 commercial units and shops in Grand Venice Mall, Greater Noida, amounting to ₹203 crore, have also been attached, allegedly misdirected under the name of Grand Express Developers.
With this, the total value of assets attached in the case reaches about ₹267.03 crore to date.
The ED’s investigation was initiated based on several FIRs filed by Uttar Pradesh Police and Delhi Police against Bhasin Infotech and Infrastructure, Grand Venezia Commercial Towers, and others.
The ED’s Lucknow Zonal Office has provisionally attached 389 immovable properties worth ₹240.03 crore (present market value is over ₹700 crore) under PMLA, 2002, linked to M/s Bhasin Infotech and Infrastructure Pvt. Ltd. (BIIPL)…. pic.twitter.com/JvTcGhutrT
— ED (@dir_ed) July 20, 2026
The agency alleges that Satinder Singh Bhasin, director of Bhasin Infotech and Infrastructure and Grand Venezia Commercial Towers, initiated a real estate project called Grand Venezia Commercial Complex in Surajpur, Greater Noida, persuading investors with false promises of guaranteed returns and timely delivery of commercial units. After collecting significant funds, the accused failed to deliver or refund investments, leading to substantial losses for numerous investors.
Funds received in the bank accounts of Bhasin Infotech and Infrastructure and Grand Venezia Commercial Towers were allegedly funneled through related entities of the Bhasin Group, including Niche Builders & Contractors, to create an opaque money trail.
The ED claims that these funds were then utilized to acquire high-value real estate in Goa under the names of India Oceanworld and Goa Connect Properties, which were reportedly misrepresented as independent entities but were actually under the beneficial control of Satinder Singh Bhasin.
The agency also maintains that 425,152 sq. ft. of prime commercial space, consisting of 384 commercial units in Grand Venice Mall, was rerouted to another entity of the Bhasin Group, Grand Express Developers, through bogus transactions and fraudulent agreements.
Earlier, under Section 17 of the PMLA, searches were executed in April 2025 at the homes and offices of Bhasin Infotech and Infrastructure, Grand Venezia Commercial Towers, Satinder Singh Bhasin, and their associates.
During these searches, incriminating documents, digital devices, and cash amounting to ₹36 lakh were confiscated, and a bank account belonging to Bhasin Infotech and Infrastructure was frozen.
In June 2025, the ED provisionally attached properties valued at ₹27 crore in the same case.
Satinder Singh Bhasin was arrested by the ED in May 2026 under the PMLA and is presently in judicial custody.
The agency indicated that additional investigations are ongoing.
