ED Attaches Assets Worth Over Rs 100 Crore in Lucknow Real Estate Money Laundering Case
The Enforcement Directorate (ED) has attached assets worth over Rs 100 crore in a money laundering case related to the Aranya Project in Lucknow. The project, developed by Unnati Fortune Holdings Limited (UFHL), is linked to significant financial irregularities and misappropriation of funds.
Money LaunderingReal EstateEdUnnati Fortune Holdings LimitedAssets AttachmentReal EstateSep 08, 2025
The ED initiated its investigation based on various FIRs registered by the UP Police under multiple sections of the Indian Penal Code (IPC), 1860, against Unnati Fortune Holding Ltd. (UFHL), Anil Mithas, Madhu Mithas, and other key officials of the company. The investigation has revealed that Anil Mithas, the main promoter and key person of UFHL, diverted approximately Rs. 126.30 crore through various methods of money laundering, including equity investment, preference shares, debentures/bonds, loans, advances, and security deposits to related parties during the period from 2011 to 2019.
The funds were collected from homebuyers and investors in several bank accounts of UFHL. This diversion and siphoning of funds from UFHL were prejudicial to the project, causing its non-completion and misappropriation of homebuyers' and investors' funds. This resulted in a significant loss to financial institutions and homebuyers, and wrongful gain to the directors and promoters of UFHL.
Anil Mithas was arrested by the ED on April 16 and is currently in judicial custody. Searches were conducted at various related premises the next day, resulting in the seizure of incriminating documents and digital evidence. Previously, the ED, Lucknow, issued a Provisional Attachment Order on June 11, 2025, attaching one movable and 12 immovable assets worth Rs. 25.94 crore belonging to the erstwhile directors/promoters of UFHL and their associated entities.
The ED has also filed a Prosecution Complaint before the Court of the Hon’ble Special Judge, Anti-Corruption, CBI Ghaziabad on June 13 against the accused company, M/s Unnati Fortune Holdings Limited (UFHL), and its promoter, Anil Mithas, under the PMLA, 2002. To date, movable and immovable assets worth Rs. 126 Crore belonging to M/s UFHL and its promoters/associate entities have been attached by the ED. Further investigation into the matter is ongoing.
Frequently Asked Questions
What is the total value of assets attached by the ED in the Aranya Project case?
The ED has attached assets worth Rs. 100.06 Crore in the Aranya Project case.
Who is the main promoter of Unnati Fortune Holdings Limited (UFHL)?
The main promoter of Unnati Fortune Holdings Limited (UFHL) is Anil Mithas.
How much money was diverted through money laundering methods?
Anil Mithas diverted approximately Rs. 126.30 crore through various methods of money laundering.
What legal action has been taken against Anil Mithas?
Anil Mithas was arrested by the ED on April 16 and is currently in judicial custody. The ED has also filed a Prosecution Complaint against him and UFHL under the PMLA, 2002.
What is the status of further investigation in the case?
Further investigation into the matter is ongoing.
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