ED initiated investigation on the basis of various FIRs registered by UP Police against Unnati Fortune Holding, Anil Mithas, Madhu Mithas and other key officials of M/s UFHL
FinTech BizNews Service
Mumbai, September 8, 2025: Directorate of Enforcement (ED), Lucknow Zonal Office has provisionally attached assets worth Rs 100.06 Crore (approx.) in The Aranya Project being developed by M/s Unnati Fortune Holdings Limited (UFHL) belonging to Anil Mithas HUF, Promoter of M/s UFHL in the case against M/s Unnati Fortune Holdings Ltd (UFHL) and its Promoters/Directors under the provisions of Prevention of Money Laundering Act (PMLA), 2002, as per a press release issued by the ED today.
ED initiated investigation on the basis of various FIRs registered by UP Police under various sections of IPC, 1860 against Unnati Fortune Holding Ltd. (UFHL), Anil Mithas, Madhu Mithas and other key officials of M/s UFHL. ED investigation till now has revealed that there has been diversion to the tune of approx. Rs. 126.30 Crore by Anil Mithas being the main promoter and key person of the company M/s UFHL through various colourful devices of money laundering such as equity investment, preference shares, debentures/bonds, loans and advances and security deposits to related party during the offence period i.e 2011 to 2019 out of the funds collected from homebuyers/investors in several bank accounts of M/s. UFHL.
These diversion/siphoning of the funds of M/s UFHL have been prejudicial to the project causing non completion of the projects and misappropriation of the funds of homebuyers/investors causing huge loss to the financial institutions and homebuyers and wrongful gain to Directors and Promoters of M/s UFHL. Anil Mithas main Promoter of the company was arrested by ED on 16/04/2025 who is currently in judicial custody. Searches were conducted at various related premises on 17/04/2025 resulting in seizure of incriminating documents and digital evidences.
Previously ED, Lucknow issued a Provisional Attachment Order on 11.06.2025 attaching 01 movable and 12 immovable assets worth Rs 25.94 Crore of the erstwhile Directors/Promoters of M/s UFHL and their associated entities. ED has also filed a Prosecution Complaint before the Court of Hon’ble Special Judge, Anti-Corruption, CBI Ghaziabad on 13.06.2025 against the accused company i.e. M/s Unnati Fortune Holdings Limited (UFHL) and its Promoter Anil Mithas under PMLA, 2002. Till date, movable and immovable assets worth Rs. 126 Crore belonging to M/s UFHL and its Promoters/Associate entities have been attached by ED. Further investigation is under progress.
