ED seizes 119 ha land of Shine City group in money laundering case

LUCKNOW In yet another crackdown against real estate company Shine City, the Enforcement Directorate on Monday seized 119.71 hectares of land belonging to the group. The land, cumulatively worth over 56.10 crore, is spread over three districts of Lucknow, Mirzapur and Prayagraj.

According to the ED, the seized land is in the name of three companies of the Shine City group. This seizure of properties of the Shine City Group is being carried out in connection with an ongoing investigation under the Prevention of Money Laundering Act, 2002. So far, properties worth over 105.14 crore have been seized by the ED in this case.

The legal action comes after several FIRs were registered by police against Shine City Infra Project Private Limited. The company management is accused of cheating public by luring them to invest in lucrative schemes floated by the company and defrauding them of their invested amount.

The ED has already attached various immovable properties of the Shine City Group of companies, including those in the name of Shine City Infra projects, Shine City Colonisers, Shine City Properties, Shine City Shapers, and Shine City Builders. These properties are located in Fatehpur, Raebareli, Kanpur, Jalaun, Gorakhpur, and Allahabad. The total measure of this seized land stands at 31.8 hectares. It is worth 10.59 crore.

Also, nine residential premises, including flats of the group, have been seized. Besides Uttar Pradesh, Shine City companies had also acquired and sold land in other states, including Bihar and West Bengal. The collection of sale deeds from property registration authorities in several cities across of various states is in progress to ascertain details of land deals of the Shine City group, said ED authorities.