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The Enforcement Directorate (ED) has intensified its investigation against Unnati Fortune Holdings Ltd (UFHL) by filing a supplementary prosecution complaint under the Prevention of Money Laundering Act (PMLA). The probe, following multiple FIRs by Uttar Pradesh Police, alleges that promoter Anil Mithas and others diverted around INR 126 crore between 2011 and 2019, affecting homebuyers and investors. Mithas remains in judicial custody. ED has provisionally attached movable and immovable assets worth INR 126 crore. The new complaint provides additional evidence and details of the alleged money laundering activities, reinforcing ongoing legal proceedings.
The Enforcement Directorate's Lucknow office has filed a supplementary prosecution complaint against Unnati Fortune Holdings Ltd (UFHL) and its promoters and directors before the special court for anti-corruption, CBI, in Ghaziabad. The complaint is under sections 44 and 45 read with sections 3, 4, and 70 of the Prevention of Money Laundering Act (PMLA), 2002. The ED's action adds to its previous complaint, taken cognizance of by the court last year, and provides further evidence regarding the alleged diversion of funds collected from homebuyers. Advertisement
Investigations follow multiple FIRs registered by the Uttar Pradesh Police under various sections of the Indian Penal Code against UFHL and its key promoters, including Anil Mithas and Madhu Mithas. The ED alleges that Anil Mithas diverted approximately INR 126 crore between 2011 and 2019 through complex financial arrangements that moved funds away from intended project development. This amount primarily includes homebuyers' money collected for real estate projects, with The Aranya project in Noida cited as a major example.
Anil Mithas was arrested by the ED in April last year and continues to remain in judicial custody. Following his arrest, the ED carried out searches at multiple premises linked to UFHL, recovering documents, digital records, and other material relevant to the ongoing investigation. These findings form part of the supplementary prosecution complaint now before the court, aimed at providing additional details of the alleged proceeds of crime and clarifying the methods of fund diversion.
To secure alleged proceeds, ED has provisionally attached movable and immovable assets worth approximately INR 126 crore, including properties connected to UFHL, its promoters, and associated entities. Previous actions included the first prosecution complaint filed in June last year, with the court taking cognizance in August. The supplementary complaint now supplements earlier filings with further evidence and explanations about money laundering activities, providing a more detailed account of how the funds were allegedly misused.
This case is part of a wider scrutiny of real estate firms accused of misappropriating buyers' funds. Earlier ED actions involved attaching properties and assets across Noida, Meerut, and Delhi, highlighting delays in project completion and financial losses for investors. Authorities continue to investigate the flow of funds, aiming to trace diverted money and secure assets for potential restitution to affected buyers.
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