ED Attaches Sai Group Promoters' UK Properties in Money Laundering Case
The Enforcement Directorate (ED) has attached immovable properties in the UK belonging to Vinod Tanna and his family, in a money laundering case involving the Sai Group's alleged cheating of flat buyers.
EdSai GroupMoney LaunderingProperty AttachmentUkReal Estate MumbaiJul 17, 2025
The ED sent the provisional attachment details to the UK authorities through the Mutual Legal Assistance Treaty for implementation. According to the ED's press release on Thursday, their investigation revealed that the attached asset, comprising land and building, was acquired by Jayesh Tanna in 2017 during the crime period. The proceeds of crime amounting to GBP 207,000 were siphoned to the UK, generated by cheating genuine investors and flat buyers in the case.
The ED's investigation has uncovered that the promoters of Sai Group entities engaged in various malpractices to divert funds of flat and shop buyers in their proposed redevelopment projects for personal benefits. This led to the non-delivery of the projects and caused wrongful loss to buyers, old tenants (original society members), and investors to the tune of Rs 85.75 crore.
Earlier, the ED had already attached assets worth Rs 33.89 crore, including agricultural land, residential flats, commercial shops, and a bungalow in Mumbai and Ahmednagar. These attachments are part of the broader efforts to recover the funds and bring the perpetrators to justice.
The ED initiated investigations based on multiple FIRs registered by city police against Jayesh Vinod Tanna, Deep Vinod Tanna (promoters of Sai Group entities), their family members, and others. The FIRs were filed for diverting funds of purchasers in their proposed redevelopment projects for personal benefits, thus cheating buyers of Rs 85.75 crore in projects located in D N Nagar, Andheri, Kandivli, and Goregaon.
This case highlights the importance of regulatory oversight in the real estate sector to protect the interests of genuine buyers and investors. The ED's actions demonstrate a commitment to combating financial crimes and ensuring that those who engage in fraudulent activities are held accountable.
Frequently Asked Questions
What is the Enforcement Directorate (ED)?
The Enforcement Directorate (ED) is a law enforcement agency in India that investigates financial crimes, including money laundering and violations of the Foreign Exchange Management Act (FEMA).
Who are the main promoters of the Sai Group?
The main promoters of the Sai Group are Jayesh Vinod Tanna and Deep Vinod Tanna.
What is the value of the property attached in the UK?
The value of the property attached in the UK is GBP 207,000.
How much total loss did the Sai Group's fraud cause to buyers and investors?
The total loss caused to buyers and investors by the Sai Group's fraud is Rs 85.75 crore.
What other assets have been attached by the ED in this case?
The ED has already attached assets worth Rs 33.89 crore, including agricultural land, residential flats, commercial shops, and a bungalow in Mumbai and Ahmednagar.
Related News Articles
Elevating Civil Aviation: Mohol's Pioneering Role in Pune
Discover how Mohol is driving growth in Pune's civil aviation sector, with insights from Hemant Rasne, former Mayor and BJP leader.
Budget 2024: A Boost to Sustainable Growth in Real Estate
The Union Budget 2024 focuses on MSMEs, employment, skilling, youth, and middle-class, with indirect benefits to the real estate sector through job creation, infrastructure, and urban redevelopment.
Dubai Real Estate Market Sets AED 141.9 Billion Quarterly Sales Record in Q3 2024
Dubai’s real estate market achieved a significant milestone in Q3 2024, with total sales reaching AED 141.9 billion, marking a new all-time high for a single quarter. This achievement surpassed the previous record of AED 124.07 billion set in Q2 2024, ref
Elan Group Gets a Boost with Rs 1200 Crore from Kotak Real Estate Fund
The investment will serve as growth capital, helping Elan Group cement its position in the thriving real estate market of Gurugram. This strategic move is expected to accelerate the company's expansion and development projects in the region.
Delhi-NCR: The Metro City Witnessing a Massive Surge in Housing Prices
The report suggests that the price appreciation in Delhi-NCR is attributed to rising demand for high-end properties. Read more to know the details.
Radisson Resort Khopoli Launches as a Luxurious Getaway Near Mumbai and Pune
Radisson Hotel Group has expanded its footprint in Maharashtra with the opening of Radisson Resort Khopoli, offering a premium retreat for travelers near Mumbai and Pune.