ED Clamps Down on Rs 100 Crore in Lucknow Real Estate Money Laundering Case

The Enforcement Directorate (ED) in Lucknow has taken a significant step in the ongoing investigation of a major money laundering case. On September 8, 2025, the ED's Lucknow Zonal Office announced the attachment of assets worth Rs 100.06 crore. The case is centered around the Aranya Project, a real estate development by Unnati Fortune Holdings Limited (UFHL), which is promoted by Anil Mithas HUF, a key figure in UFHL.

The ED initiated its probe based on several FIRs registered by the Uttar Pradesh Police under various sections of the Indian Penal Code (IPC) against UFHL, Anil Mithas, Madhu Mithas, and other top officials of the company. The investigation has uncovered that Anil Mithas, the primary promoter and a key person in UFHL, diverted approximately Rs 126.30 crore through various methods of money laundering. These methods included 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 and deposited into multiple bank accounts of UFHL. This diversion and siphoning of funds from UFHL were detrimental to the project, leading to its non-completion and the misappropriation of homebuyers' and investors' funds. This resulted in significant financial losses for financial institutions and homebuyers, while the directors and promoters of UFHL gained wrongfully.

Anil Mithas was arrested by the ED on April 16 and is currently in judicial custody. Searches were conducted at various related premises the following day, leading to the seizure of incriminating documents and digital evidence. On June 11, 2025, the ED, Lucknow, issued a Provisional Attachment Order, attaching one movable and 12 immovable assets worth Rs 25.94 crore belonging to the former directors/promoters of UFHL and their associated entities.

Additionally, the ED filed a Prosecution Complaint before the Court of the Hon’ble Special Judge, Anti-Corruption, CBI Ghaziabad on June 13, 2025, against the accused company, M/s Unnati Fortune Holdings Limited (UFHL), and its promoter, Anil Mithas, under the Prevention of Money Laundering Act, 2002. To date, movable and immovable assets worth Rs 126 crore belonging to UFHL and its promoters/associated entities have been attached by the ED.

The investigation is ongoing, and the ED is committed to ensuring that all those involved in this money laundering scheme are held accountable for their actions. This case underscores the importance of stringent regulatory measures and thorough investigations to prevent such financial malpractices in the real estate sector.