Gaziabad, January 29: The Enforcement Directorate (ED) on Thursday filed a supplementary chargesheet in a special court in Ghaziabad against a builder accused of defrauding homebuyers of ₹126 crore in a Noida Sector-119 project, an official said.
The ED’s Lucknow regional office submitted the chargesheet under sections 3, 4, and 70 of the Prevention of Money Laundering Act (PMLA), 2002, along with sections 44 and 45, against Unnati Fortune Holdings Limited (UFHL) and its promoters/directors, the official added.
The investigation began based on a First Information Report (FIR) registered by the Uttar Pradesh Police under various provisions of the Indian Penal Code (IPC), 1860.
The central agency alleged that the builder misappropriated funds collected from homebuyers for the ‘Unnati The Aranya’ project in Noida Sector-119. This caused the project to remain incomplete, resulting in significant losses to the buyers and financial institutions.
ED’s probe revealed that the main promoter and key person of UFHL, Anil Mithas, was involved in the diversion of ₹126 crore. The money laundering activities took place between 2011 and 2019 through multiple UFHL bank accounts using equity investments, preference shares, debentures/bonds, loans, advances, and security deposits transferred to related parties.
The ED statement said this financial malpractice led to the project’s delay and misuse of homebuyers’ and investors’ funds, causing heavy losses to financial institutions and buyers while benefiting the company’s promoters and directors unfairly.
Anil Mithas was arrested by the ED on April 16, 2025, and is currently in judicial custody.
On April 17, 2025, the ED conducted searches at various related premises, seizing incriminating documents and digital evidence.
So far, the ED has attached movable and immovable assets worth ₹126 crore linked to UFHL and its promoters/associated entities, the agency said.