The Hon’ble PMLA Special Court has ordered for issuance of pre-cognizance notices to all the accused in the case.
FinTech BizNews Service
Mumbai, 16 August, 2026: Directorate of Enforcement (ED), Mumbai Zonal office has filed Prosecution Complaint (PC) under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 before the Hon'ble Special Court (PMLA), Mumbai on 31.07.2026 against Jayesh Vinod Tanna, Deep Vinod Tanna, Vivek Jayesh Tanna and 07 other entities of Sai Group, for the offence of money-laundering as defined under Section 3 read with Section 70, punishable under Section 4 of the PMLA, 2002.
The Hon’ble PMLA Special Court has ordered for issuance of pre-cognizance notices to all the accused in the case. ED initiated investigations in 2024 on the basis of multiple FIRs registered by Mumbai Police under various sections of Indian Penal Code (IPC) and Maharashtra Ownership Flats Act, 1963 (MOFA) against Jayesh Vinod Tanna, Deep Vinod Tanna (promoters of Sai group of entities) and others.
Subsequently, chargesheets have been filed by Mumbai Police in 14 out of 17 such LEA cases. ED investigation revealed that promoters of Sai Group of Entities resorted to various malpractices to divert funds of flat/shop buyers, in its proposed redevelopment Projects, for their personal benefits, leading to non-delivery of the Projects and thus causing wrongful loss to buyers, old tenants (original society members) and investors to the tune of Rs. 43.73 Crore in the various Projects across Mumbai Metropolitan Region (D N Nagar, Andheri, Kandivali & Goregaon).
Earlier, ED has attached assets to the tune of Rs. 43.73 Crore (representing Proceeds of Crime) under Section 5 of the PMLA, 2002, in form of immovable properties linked to the accused in the case situated at Mumbai, Ahmednagar districts of Maharashtra as well as an immovable property situated in United Kingdom (UK).
