Directorate of Enforcement (ED), Bhubaneswar Zonal Office has provisionally
attached assets having present value of Rs. 1428 Crore of M/s Goldenland Group of
Companies under the provisions of Prevention of Money Laundering Act (PMLA), 2002. The
assets includes bank balances amounting to Rs. 15.06 Crore available in various accounts
and landed properties admeasuring 1000 acres approx. in various districts of Odisha and
Andhra Pradesh. The immovable assets attached also includes some constructed buildings
and structures. Present market value of immovable assets attached is to the tune of Rs. 1413
Crore.
ED initiated investigation on the basis of FIR registered by the CBI, SPE, Kolkata under
various section of IPC, 1860 against M/s Goldenland Group of Companies and others.
ED investigation revealed that suspect persons, entities and companies associated
with M/s Golden Land Developers Limited and M/s GLP Developers Limited without having
any statutory authority and approval of the regulatory authorities such as RBI, SEBI, ROC,
etc., have illegally and fraudulently raised huge amounts of money from general public from
the state of Odisha and Andhra Pradesh in the garb of real estate development and floated
illegal financial businesses of lump sum deposits, Recurring Deposits, RD/Monthly
investment schemes (MIS), YLY plan, etc. in the guise of plot booking by alluring the innocent
depositors through the false promise of higher returns against the deposits made in the group
companies. Large scale diversion of cash to sister concerns and to the accounts of Directors
and associates has also been unearthed.
Earlier, ED had carried out search operations against promoters/Directors and owners
of these related group of companies at various locations in Odisha, Punjab, Chandigarh and
Delhi on 08.02.2024 resulting in cash and vehicle seizures.
Further investigation is under progress
Tag: RealEstateScam
Unnati Group Fraud: ED Arrests Key Promoter Anil Mithas
Directorate of Enforcement (ED), Lucknow Zonal office has arrested Anil Mithas, Main
promoter of the M/s Unnati Group company & Key managerial Person of the company on 16.04.2025
under the provisions of Prevention of money Laundering Act (PMLA), 2002. Further, he was produced
before the Hon’ble PMLA Court of Special Judge, Anti-Corruption, CBI, Ghaziabad. The Hon’ble
Court granted ED remand of the accused till 24-04-2025.
ED initiated investigation in the case of Unnati Group home buyers’ fraud case on the basis of
various FIR registered by SIT Uttar Pradesh against the company M/s Unnati Fortune Holdings
Limited (UFHL) and promoter & others for Cheating and fraud of Rs. 107 Crore in collusion with its
directors/ promoters/ guarantors under various sections of IPC, 1860.
ED investigation revealed that Rs. 522.90 Crore was collected from homebuyers by Unnati
Fortune Holdings Ltd. and IVRCL Infrastructure & Projects Ltd. for a residential project namely
ARANYA in Sector 119 NOIDA during the period 2012-2019. In place of using the entire money for
construction promoter used some part for construction and siphoned off huge money by way of fake
loan & advances, share premium, advance payment for material, deposits etc to various companies
which either forfeited the amount due to small violations or struck off from MCA, and the project got
stuck due to lack of money. Audit report prepared by M/s Currie & Brown, on the direction of UPRERA
clearly revealed diversion of Rs. 107 Crore. Apart from that from several FIRs, it is revealed that flats
were fraudulently sold to multiple buyers.
The Directors and promoters committed organized financial fraud and criminal conspiracy
under sections 420, and 120-B of IPC, 1860. They failed to meet their obligations to buyers and
violated trust while causing financial harm to multiple families. Hundreds of home buyers were left in
lurch and huge money was diverted by the promoters. Thus, by committing the crime of fraud which
is a scheduled offence the accused have earned money which is nothing but Proceeds of Crime.
Further investigation is under progress.
Draft Tweet:-
ED, Lucknow has arrested Anil Mithas, main promoter of the M/s Unnati Group company &
Key managerial Person of the company on 16.04.2025 under the provisions of PMLA, 2002. He was
produced before the Hon’ble PMLA Court of Special Judge, Anti-Corruption, CBI, Ghaziabad. The
Hon’ble Court granted ED remand of the accused till 24-04-2025
ED Files Complaint in Money Laundering Case Against Dr. Rajendra Prasad
Directorate of Enforcement (ED), Patna Zonal Office has filed Prosecution Complaint (PC) in
connection with money laundering case related to Disproportionate Assets (DA) Case of Dr.Rajendra Prasad,
former Vice Chancellor, Magadh University and others. The PC is filed against 4 accused namely Dr.
Rajendra Prasad, Dr. Ashok Kumar (S/o Dr. Rajendra Prasad), Awadesh Prasad (brother of Dr. Rajendra
Prasad), and Pyari Devi Memorial Welfare Trust before the Hon’ble Special Court (PMLA), Patna on
15.04.2025, under the provisions of Prevention of Money Laundering Act (PMLA), 2002. The Hon’ble Court
has taken cognizance of the same on 15.04.2025.
ED initiated investigation on the basis of FIR registered by Special Vigilance Unit (SVU), Patna under
various sections of Prevention of Corruption Act, 1988 and IPC, 1860 against Dr.Rajendra Prasad and others.
FIR and chargesheet filed by SVU, alleged that Dr. Rajendra Prasad, during September 2019 to November
2021,while working as Vice Chancellor, Magadha University, Bodh Gaya acquired disproportionate assets
valued at Rs. 2,66,99,591/-.
In addition to this, during the investigation under PMLA, 2002, more assets valued at Rs. 64.53 Lakh
(approx.) were identified by ED which were acquired by Dr Rajendra Prasad during this period which is
nothing but the Proceeds of Crime (POC) generated by him.
ED investigation revealed that during September 2019 to November 2021, Dr.Rajendra Prasad used
this POC to acquire 05 properties in cash in the name of his son Dr. Ashok Kumar and R.P College
represented by his brother Awadhesh Prasad. The properties which were acquired in the name of R P
College have been finally transferred to Pyari Devi Memorial Welfare Trust on lease. Dr. Rajendra Prasad
also deposited the POC generated in cash in the Bank Account of Pyari Devi Memorial Welfare Trust (a
family owned trust of Dr. Rajendra Prasad) to portray it as income of the said trust. Investigation has revealed
that a well-planned conspiracy has been hatched by Dr. Rajendra Prasad involving his family members to
project the properties acquired with POC as untainted properties by using the said family owned Trust as a
conduit.
This POC attached by ED in the form of immovable properties in the hands of family members of Dr.
Rajendra Prasad and his family owned trust to the tune of Rs 64.53 Lakh (approx.).
Further investigation is under progress
ED Attaches Rs. 121.80 Crore Properties in Tamil Nadu
Directorate of Enforcement (ED), Chennai Zonal Office has provisionally attached movable and
immovable properties in various places across Tamil Nadu valued at Rs. 121.80 Crore on 09.04.2025
under the provisions of Prevention of Money Laundering Act (PMLA), 2002 in the case of Neomax
Properties Private Ltd., and its group companies viz. Garlando Properties Private Ltd., Transco Properties
Private Ltd., Tridas Properties Private Ltd., Glowmax Properties Private Ltd. and its Directors/shareholders
viz. Kamalakannan, Balasubramanian, Veerasakthi, Charles and others. The market value of the
attached properties is around Rs. 600 Crore. This attachment follows the Provisional Attachment of
properties valued at Rs. 117 Crore on 15.12.2023 by ED that has been confirmed by the PMLA
Adjudicating Authority, wherein the market value of those properties was Rs. 207 Crore.
ED initiated investigation on the basis of the FIR registered by the Economic Offences Wing (EOW),
Madurai, against Neomax Properties Pvt. Ltd., and its Group companies, which allegedly cheated several
investors into depositing lakhs of money in various projects (Real estate plot development) by promising
high returns up to 12% to 30% interest, ultimately cheating them by not giving the promised returns/plots.
ED investigation revealed that M/s Neomax Properties Private Ltd. and other group companies
under the ambit of “Neomax Group” collected huge funds majorly in the form of cash, from thousands of
the investors and diverted these funds to shell entities, group companies indulged into Hotels & Resorts,
Multi-Speciality Hospitals, Pharma Distribution, Construction, Retail Business, Departmental Store,
Renewable Energy, Information Technology, Automatic Vending Machine Sales, Battery Refurbishment,
E-Commerce, Logistics, Furniture Manufacturing and sales, Aerospace Services – Helicopter/ Charter
flight Hiring services, Education, Wellness Garments / Casual Wear Sales, Restaurants, Fashion
Jewellery and other entities (outside the group). Neomax Group owes around Rs. 8,000 Crore including
the promised returns to the depositors/investors. The group has cheated the investors by alluring them
with high returns and diverted the funds collected in to the entities dealing in other businesses.
Furthermore, they avoided repayment and instead forced/ allured the depositors to redeposit their maturity
amount.
Further investigation is under progress.