Special PMLA Court Receives ED Complaint on ₹43.73 Cr Real Estate Misuse

The Special PMLA Court in Mumbai has officially received a prosecution complaint from the Enforcement Directorate concerning a massive ₹43.73 crore fraud linked to Sai Group’s redevelopment initiatives.

The document charges three brothers—Jayesh Vinod Tanna, Deep Vinod Tanna and Vivek Jayesh Tanna—along with seven companies they control. The complaint, filed on 31 July 2026, cites Sections 3 and 70 of the Prevention of Money‑Laundering Act, 2002, with sentencing provisions under Section 4.

The case stems from an ED probe that began in 2024 after Mumbai police lodged several FIRs against the promoters under the Indian Penal Code and the Maharashtra Ownership Flats Act, 1963. Out of 17 FIRs, 14 have already resulted in charge‑sheets.

According to the investigation, the accused collected funds from buyers of apartments and commercial units in proposed redevelopment projects in DN Nagar, Andheri, Kandivali and Goregaon, but misused the money for personal gain. The diversion caused project delays and inflicted a cumulative loss of ₹43.73 crore on purchasers, original occupants and investors.

Earlier, assets equivalent to the illegally obtained amount were attached under Section 5 of the PMLA, covering properties in Mumbai, Ahmednagar district and a property in the United Kingdom. The ED alleges that the money was routed to other projects and partially transferred abroad, with a network of companies employed to legitimize the flow.

The complaint includes bank transaction records, documentary evidence and witness statements, all submitted to the court. The Special PMLA Court will now serve notices to the accused and seek their explanations before taking cognizance of the matter.