ED provisionally attaches assets worth 1.66 crore rupees in money laundering case

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ED attaches assets

Highlights

The action followed an investigation into 10 FIRs and allegations of investment fraud involving M/s Shri Ganesham Build Developers Pvt. Ltd. and its director Anil Kumar Sharma.
The ED said investors were lured by promises of guaranteed monthly returns of 2-3%, and the funds were channeled into real estate assets.
The ED provisionally attached assets worth 1.66 crore in Rajasthan in a money laundering case, which the agency believes were acquired through fraud.

This article was translated from the original. Read the original version by our correspondent here.

Basis of the Investigation and Scope of the Attachment

According to the Enforcement Directorate, its Delhi Zonal Office-II took this action under the provisions of the Prevention of Money Laundering Act, 2002, through Provisional Attachment Order No. 24/2026 dated October 21, 2026. The agency said the attached properties are land located in village Dhani Gaskan, Virat Nagar tehsil, Jaipur district, Rajasthan, registered in the names of M/s Shri Ganesham Build Developers Pvt. Ltd. and its director Anil Kumar Sharma.

The ED launched its investigation based on 10 FIRs registered by Delhi Police, which are being investigated by the Economic Offences Wing. The case concerns allegations involving Shanthi Swaroup Satija, M/s Sampatti Trading & Developers Ltd. and M/s Sampatti Developers, who allegedly induced investors to invest in various investment schemes and land projects by promising guaranteed monthly returns of 2 to 3%.

According to the investigation, some investors received returns during the initial period, but payments later stopped and many investors did not even get their principal back. The ED says funds were transferred from entities controlled by Satija to M/s Shri Ganesham Build Developers Pvt. Ltd. and Anil Kumar Sharma to purchase land in Rajasthan.

Further Action in the Investor Fraud Case

According to the agency, the alleged proceeds of crime equivalent to 1.66 crore rupees were transferred to and held by the company and its director. The ED said that because the original proceeds of crime had been dissipated or dispersed, immovable properties of equivalent value were provisionally attached to preserve that value.

The case is also significant in the broader context of regulatory and enforcement scrutiny of investment schemes promising high returns in India, particularly when alleged fund flows are linked to real estate assets. The agency said further investigation in the case is ongoing.

Our earlier report detailed the ED's provisional attachment of immovable properties worth around 140 crore rupees belonging to Earth Infrastructure Limited and its affiliated entities in a money laundering case linked to real estate in Delhi-NCR. It covered key allegations of the alleged diversion of funds raised from homebuyers/investors, incomplete projects, and the ongoing investigation under the PMLA. The Enforcement Directorate provisionally attached Jaipur-based land assets worth 1.66 crore rupees under the Prevention of Money Laundering Act, 2002.

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