ED Clamps Down on Rs 100 Crore in Lucknow Real Estate Money Laundering Case
The Enforcement Directorate (ED) has attached assets worth over Rs 100 crore in connection with a money laundering case involving the Aranya Project in Lucknow. The project, developed by Unnati Fortune Holdings Limited (UFHL), is linked to Anil Mithas HUF, a promoter of UFHL.
Real EstateMoney LaunderingEdUnnati Fortune Holdings LimitedAranya ProjectReal Estate NewsSep 08, 2025
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.
Frequently Asked Questions
What is the total value of assets attached by the ED in the Lucknow real estate money laundering case?
The ED has attached assets worth over Rs 100 crore in the Lucknow real estate money laundering case involving the Aranya Project.
Who is the main promoter of Unnati Fortune Holdings Limited (UFHL)?
The main promoter of Unnati Fortune Holdings Limited (UFHL) is Anil Mithas.
What methods did Anil Mithas use to divert funds from UFHL?
Anil Mithas diverted funds from UFHL through various methods including equity investment, preference shares, debentures/bonds, loans, advances, and security deposits to related parties.
When was Anil Mithas arrested by the ED?
Anil Mithas was arrested by the ED on April 16, 2025.
What is the total value of assets attached by the ED so far in this case?
To date, the ED has attached movable and immovable assets worth Rs 126 crore belonging to UFHL and its promoters/associated entities.
Related News Articles
Luxury Living: Lenskart Co-Founder
Lenskart co-founder Peyush Bansal and Dhanuka family members have purchased luxury apartments worth ₹106.4 crore in DLF's The Camellias project in Gurugram.
India's Ad Industry Disappoints at Cannes with 18 Metals, a Decade-Low Performance
India's advertising industry has failed to impress at the Cannes Lions International Festival of Creativity, bagging only 18 metals, its worst performance since 2015.
MahaRERA Makes it Mandatory for Developers to Disclose Amenities Details in RERA Registered Projects
Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued an order to ensure transparency and efficiency in real estate projects
314 Housing Projects in Maharashtra Facing Insolvency, MahaRERA Warns
Mumbai, 10th October 2024: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has announced that 314 housing projects registered with it are undergoing insolvency proceedings at the National Company Law Tribunal (NCLT). To protect homebuyers, Mah
Emaar India Launches Ultra-Luxury Project, Casa Venero, in Alibag, Maharashtra
We are thrilled to bring this exclusive development to the Maharashtra real estate market, and we eagerly anticipate welcoming residents to experience the ultra-luxury lifestyle at Casa Venero in Alibag.
Punjab CM Bhagwant Mann Announces Significant Relief for Real Estate Sector
Punjab Chief Minister Bhagwant Mann has introduced several new initiatives aimed at providing substantial relief to the ailing real estate sector in the state. These measures are expected to boost the industry and benefit both developers and homebuyers.