IndiaPosted at: Oct 14 2025 4:49PM


Supreme Court lauds ED's efforts in restituting Rs 150 cr property to homebuyers

New Delhi, Oct 14 (UNI) The Supreme Court has appreciated the efforts of the Enforcement Directorate (ED) in restituting property, presently valued at around Rs 150 crore, to innocent homebuyers.
The case originates from First Information Reports registered by the CBI against Bharat Bomb and others for defrauding Syndicate Bank (now Canara Bank) of Rs 1,267.79 crore between 2011 and 2016. The ED initiated a money laundering investigation as the offences involved are scheduled under the PMLA.
The investigation revealed that the proceeds of the bank fraud were layered for the acquisition of Udaipur World Entertainment Pvt. Ltd. and the development of its project, 'Royal Rajvilas'. Consequently, the ED attached 365 unsold flats, 17 commercial units, and 2 plots of the company in 2019.
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