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. The project is developed by Unnati Fortune Holdings Limited (UFHL) and involves the promoter Anil Mithas HUF. The ED's investigation has revealed the diversion of funds through various methods, causing significant financial losses to homebuyers and investors.
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 (IPC) 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 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, leading to its non-completion and the misappropriation of homebuyers' and investors' funds. This resulted in significant financial losses to financial institutions and homebuyers, and wrongful gains for 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 on April 17, 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 Prevention of Money Laundering Act (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.
The Enforcement Directorate's actions in this case highlight the commitment to combatting financial crimes and ensuring that justice is served for the victims of money laundering and financial fraud. The attachment of these assets is a significant step towards recovering the losses incurred by homebuyers and investors and deterring similar fraudulent activities in the future.
Frequently Asked Questions
What is the total value of assets attached by the ED in this case?
The ED has attached assets worth Rs. 100.06 Crore in this real estate money laundering case.
Who is the main promoter of Unnati Fortune Holdings Limited (UFHL)?
Anil Mithas is the main promoter and key person of UFHL.
What methods were used to divert funds in this case?
Funds were diverted through various methods of money laundering, including equity investment, preference shares, debentures/bonds, loans, advances, and security deposits to related parties.
When was Anil Mithas arrested, and what is his current status?
Anil Mithas was arrested by the ED on April 16, 2025, and is currently in judicial custody.
What is the next step in the investigation?
The ED has filed a Prosecution Complaint and has attached movable and immovable assets. Further investigation into the matter is ongoing.
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