Overview
- The Enforcement Directorate’s Indore unit provisionally attached a sea‑facing villa in Murud, Raigad, valued at just over Rs 60 crore, an action reported on Wednesday and carried out under the Prevention of Money Laundering Act.
- The ED says investigators traced the purchase to loan funds taken by S. Kumars Nationwide Ltd that were allegedly diverted through a network of related and family‑controlled companies.
- With the Murud attachment and an earlier London property seizure, the agency says total provisional attachments in the SKNL matter now stand at about Rs 179.55 crore.
- The money‑laundering probe builds on two CBI cases filed on complaints by Union Bank of India and IDBI Bank that allege cheating of roughly Rs 160.83 crore and Rs 1,245.15 crore, forming the basis for the ED investigation into an alleged ~Rs 1,400 crore fraud.
- ED searches from December 23, 2025 reportedly recovered documents pointing to overseas holdings and offshore structures, and investigators say they will continue tracing further proceeds and identifying other assets for possible confiscation.