The Enforcement Directorate’s (ED) Lucknow Zonal Office has filed a supplementary prosecution complaint under the Prevention of Money Laundering Act (PMLA), 2002 against real estate firm Unnati Fortune Holdings Limited (UFHL) and its promoters and directors, in connection with an alleged ₹126-crore money laundering case linked to diversion of homebuyers’ funds.
The supplementary complaint has been filed before the court of the Special Judge (Anti-Corruption), CBI, Ghaziabad under Sections 44 and 45 read with Sections 3, 4 and 70 of the PMLA. According to the ED, the case pertains to large-scale financial irregularities involving siphoning and diversion of funds collected from homebuyers and investors.
The money laundering investigation was initiated on the basis of multiple first information reports registered by the Uttar Pradesh Police under various provisions of the Indian Penal Code, 1860. These FIRs were lodged against Unnati Fortune Holdings Limited, its key promoter Anil Mithas, Madhu Mithas, and other senior officials of the company.
According to the ED, the investigation revealed that Anil Mithas, the main promoter and key decision-maker of UFHL, allegedly diverted and siphoned off funds to the tune of approximately ₹126 crore during the offence period between 2011 and 2019. The agency alleged that the diversion was carried out through multiple “colourful” methods of money laundering, including routing funds as equity investments, preference shares, debentures or bonds, loans and advances, and security deposits to related entities.
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The ED stated that the funds allegedly siphoned off were part of the money collected from homebuyers and investors for various real estate projects of UFHL. These funds were routed through several bank accounts of the company and diverted away from project development, adversely impacting construction activity and leading to non-completion of multiple projects.
Investigators have alleged that the diversion and misappropriation of funds caused significant losses to homebuyers and financial institutions, while resulting in wrongful gains to the promoters and directors of UFHL. The ED has maintained that the alleged acts were prejudicial to the interests of investors who had committed their savings to the company’s real estate ventures.
In connection with the case, Anil Mithas was arrested by the ED on April 16, 2025, and he is currently lodged in judicial custody. Following the arrest, searches were conducted on April 17, 2025 at multiple premises linked to the company and its promoters. The searches led to the seizure of several incriminating documents and digital records, which are stated to be crucial to the investigation.
The ED further said that, so far, movable and immovable assets worth ₹126 crore belonging to UFHL, its promoters and associated entities have been provisionally attached under the provisions of the PMLA. These assets have been identified as allegedly representing proceeds of crime generated from the scheduled offences.
The agency also pointed out that this is not the first prosecution in the case. Earlier, on June 13, 2025, the ED had filed a prosecution complaint before the same special court against UFHL and its promoter Anil Mithas under the PMLA. That complaint was taken cognisance of by the court on August 18, 2025. The supplementary prosecution complaint, officials said, places additional facts, transactions and evidence on record.
Officials described the filing of the supplementary complaint as a significant step in the ongoing probe, aimed at presenting a comprehensive picture of the alleged money laundering operations before the court. The ED has indicated that further investigation in the matter is continuing, with a focus on tracing additional assets, examining financial trails and identifying the roles of other individuals and entities linked to the alleged offence.
The case has drawn attention due to its scale and its impact on a large number of homebuyers, highlighting concerns over financial discipline and accountability in the real estate sector.
About the author – Ayesha Aayat is a law student and contributor covering cybercrime, online frauds, and digital safety concerns. Her writing aims to raise awareness about evolving cyber threats and legal responses.
