ED Seizes Assets Worth Over Rs 100 Crore in Lucknow Real Estate Money Laundering Case
The Enforcement Directorate (ED) in Lucknow has attached assets worth over Rs 100 crore in a money laundering case related to the Aranya Project, developed by Unnati Fortune Holdings Limited (UFHL). The investigation revealed significant financial irregularities and the diversion of funds.
Real EstateMoney LaunderingEdUnnati Fortune Holdings LimitedAsset AttachmentReal Estate NewsSep 08, 2025
The ED initiated its investigation based on multiple FIRs registered by the UP Police under various sections of the Indian Penal Code, 1860, against 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. 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 several bank accounts of UFHL. This diversion and siphoning of funds were prejudicial to the project, leading to its non-completion and the misappropriation of homebuyers' and investors' funds. As a result, financial institutions and homebuyers suffered significant losses, 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 on April 17, leading to the seizure of incriminating documents and digital evidence. Previously, 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 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 Prevention of Money Laundering Act, 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, and the ED remains committed to ensuring that justice is served and that financial crimes are effectively combated. This case highlights the importance of stringent regulatory measures and the need for vigilance in the real estate sector to prevent such financial irregularities and protect the interests of homebuyers and investors.
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 related to the Aranya Project.
Who is the main promoter of Unnati Fortune Holdings Limited (UFHL) involved in the money laundering case?
Anil Mithas is the main promoter of Unnati Fortune Holdings Limited (UFHL) and is a key figure in the money laundering case.
What methods did Anil Mithas use to launder money?
Anil Mithas used various methods such as equity investment, preference shares, debentures/bonds, loans, advances, and security deposits to related parties to launder money.
What is the time period during which the money laundering activities took place?
The money laundering activities took place from 2011 to 2019.
What legal action has the ED taken against the accused company and its promoter?
The ED has filed a Prosecution Complaint against M/s Unnati Fortune Holdings Limited (UFHL) and its promoter, Anil Mithas, under the Prevention of Money Laundering Act, 2002.
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