Tag: Prevention of Money Laundering Act

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ED Seizes 500K+ Sq M of Property in North Goa’s Key Areas

PANAJI: On Monday, the Enforcement Directorate (ED) in Panaji provisionally attached 19 properties covering over five lakh square meters in prime locations across Goa, including Anjuna, Assagao, and Ucassaim. The properties, valued at Rs 1,268.6 crore, were seized under the Prevention of Money Laundering Act (PMLA), 2002, amid an ongoing investigation into alleged land grab activities in the state. “The properties were unlawfully obtained by a group led by Shivshankar Mayekar through the use of forged land title documents, such as ‘aforamento’/allotment certificates, final possession certificates, demarcation certificates, historical sale deeds, gift deeds, and other falsified records,” the ED stated.…

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ED Alleges Experion Developers Misused IBC in Land Deal

NEW DELHI: The Enforcement Directorate (ED) has accused the real estate developer Experion Developers of improperly utilizing the Insolvency and Bankruptcy Code provisions to acquire 9.3 acres of land in Gurugram’s Sector 62. As part of a Prevention of Money Laundering Act (PMLA) investigation involving Religare Finvest, the ED attached assets owned by the corporate debtor, Dignity Buildcon, which was subsequently purchased by Experion. The ED has filed a petition with the National Company Law Tribunal (NCLT) requesting a review of its May 2023 decision that permitted Experion to take over Dignity Buildcon through the insolvency procedure. The ED highlighted…

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SC Directs ED to Release V Hotels Assets to Lodha Developers

NEW DELHI: The Supreme Court has ordered the Enforcement Directorate (ED) to unfreeze 12 properties of corporate debtor V Hotels Ltd, which includes land in Maharashtra valued at approximately ₹4,000 crore. This decision marks a significant victory for Lodha Developers, which acquired V Hotels through the insolvency resolution process last year. Among the assets to be released is Mumbai’s prestigious Centaur Hotel located in Juhu. Lodha Developers, previously known as Macrotech Developers, acquired V Hotels via a ₹890-crore resolution plan sanctioned by the National Company Law Tribunal (NCLT) in April of last year. The company had deposited ₹520.80 crore as…

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ED Detains Former Jaypee Infratech MD in ₹14,599 Crore Case

NEW DELHI: The Enforcement Directorate has arrested Manoj Gaur, former Managing Director of Jaypee Infratech Ltd., in connection with a money laundering investigation involving an alleged Rs 14,599 crore fraud against home buyers, according to official sources. The businessman was apprehended under the Prevention of Money Laundering Act (PMLA). The agency claims that funds gathered from home buyers were misappropriated to various trusts, resulting in unfinished projects and defrauded investors. The ED’s investigation revealed that Gaur serves as the Managing Trustee of Jaypee Sewa Sansthan (JSS), which benefitted from these diverted funds. The case against him relates to the alleged…

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ED Seizes Ansal Properties Valued at Over ₹10 Crore

CHANDIGARH: The Enforcement Directorate’s (ED) Gurugram Zonal Office announced on Wednesday the provisional attachment of six immovable properties associated with the Ansal family, valued at ₹10.55 crore, under the Prevention of Money Laundering Act (PMLA), 2002. These properties are reportedly owned by directors and beneficiary owners of M/s Ansal Properties and Infrastructure Ltd (APIL): Sushil Ansal, Pranav Ansal, and Kusum Ansal. The action follows the company’s failure to repay environmental compensation mandated by various environmental agencies due to violations of The Water (Prevention and Control of Pollution) Act, 1974, and The Air (Prevention and Control of Pollution) Act, 1981. The…

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Goa Land Grab Scam Valuation May Surpass ₹1,200 Crore: ED

PANAJI: According to the Enforcement Directorate (ED), the market value of land parcels allegedly illegally acquired by Yeshwant Sawant and others is expected to surpass Rs 1,200 crore, as reported by Murari Shetye. The ED conducted searches on Monday and Tuesday at 13 residential and commercial locations across Goa and Hyderabad in this alleged land grab case, seizing Rs 72 lakh and seven luxury vehicles. The investigations were initiated under the Prevention of Money Laundering Act (PMLA) due to illegal grabs of comunidade lands in Goa. This action followed an FIR filed by the Goa police pertaining to the unlawful…

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ED seizes ₹186 crore in bank fraud case involving DHFL

NEW DELHI: The Enforcement Directorate (ED) has provisionally attached assets worth approximately Rs 186 crore under the anti-money laundering law related to a bank loan fraud case against Dewan Housing Finance Corporation Ltd (DHFL) and its promoters. The attached assets, under the Prevention of Money Laundering Act (PMLA), include 154 flats and movable assets representing receivables tied to 20 flats in Mumbai, according to an agency statement. The total value of the seized properties stands at Rs 185.84 crore. The order, issued by the Mumbai zonal office of the ED, was dated September 5. The investigation stems from a CBI…

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ED Raids 17 Builder Locations in Jaipur

JAIPUR: The Enforcement Directorate (ED) has executed extensive raids at various locations in the city, targeting the premises of businessmen involved in the real estate sector. The raids concentrated on 17 sites associated with businessmen Gyan Chand Agarwal, Jugal Kishor Derawala, Dalpat Singh, Govardhan Agarwal, and Anil Jain. These actions were initiated following a case under the Prevention of Money Laundering Act (PMLA) registered on June 9, 2025, which uncovered significant foreign investments by these individuals in Dubai, Singapore, Cyprus, and Hong Kong. Officials reported seizing important financial documents during the raids related to the accused’s dealings. Gyan Chand Agarwal…

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ED Arrests Ex-Director of Sahiti Infratech in ₹800 Crore Case

HYDERABAD: The Enforcement Directorate’s Hyderabad unit has arrested Sandu Purnachandra Rao, the former director of Sahiti Infratec Ventures India Pvt Ltd (SIVIPL), under the Prevention of Money Laundering Act (PMLA) for allegedly defrauding homebuyers of crores of rupees. Rao was taken into custody on Monday and presented before a special PMLA court in Nampally on Tuesday, where he was remanded to 15 days of judicial custody. Sahiti Infra is charged with defrauding homebuyers of approximately ₹360 crore. The ED initiated its investigation following an FIR filed by Telangana Police against SIVIPL, its managing director B. Lakshminarayan, and others, highlighting a…

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ED Files 22 Cases in Builders-Banks Nexus Investigation

NEW DELHI: The Enforcement Directorate (ED) has initiated 22 cases under the anti-money laundering statutes to probe the alleged “unholy nexus” between builders and banks responsible for defrauding homebuyers in the national capital region (NCR), according to officials. The cases, filed under the Prevention of Money Laundering Act (PMLA), arise from an equal number of FIRs by the CBI issued at the end of July, following directives from the Supreme Court. The ED emphasizes that these cases involve significant public interest, with numerous homebuyers allegedly victimized. Investigations will focus on uncovering fraud, corruption, and money laundering activities by builders, banks,…