The Kolkata Zonal Office team of the Enforcement Directorate (ED) raided the nine locations associated with the Sahara Group on Monday (August 11, 2025). The raid was conducted in Ghaziabad, Lucknow, Sriganganagar district of Uttar Pradesh and in Mumbai, the capital of Maharashtra. This action took place in the case registered under PMLA, in which Sahara Group is accused of making a big disturbance through land and share dealing.

The ED had started these investigations on the basis of three FIRs registered, which Orissa, Bihar and Rajasthan Police registered our India Credit Co-operative Society Limited under Section 420 and 120B of IPC (Humara India Credit Cooperative Society Ltd.) and others. So far, more than 500 FIRs have been lodged against different companies of Sahara Group, of which more than 300 cases come under PMLA. It is alleged that these companies got the depositors deposited again in compulsion and refused to return the money on maturity.

What happened in ED investigation so far

Investigation revealed that Sahara Group was running a kind of ponji scheme through companies like HICCSL, SCCSL, SMCSL, SICCL, Sirecl, SHICL. Money was raised by luring people and agents to give high returns and fat commissions. These money was managed without any regulation and transparency. Whose maturity time had come. Instead of giving them money, they were re -invested by putting false excuses and pressure. Non-payments were also hidden by manipulating the company’s accounts.

According to the report, despite the deteriorating financial condition of Sahara Group, new deposits continued to be taken, some of which were blown in suspicious share deal, benami properties and private expenses. Many properties were sold with partial cash payment, which did not give their money to the real depositors.

Many important documents and evidence in the raid by ED

In this raid, the ED has received many important documents and records. Besides, statements of big people associated with the group have also been recorded. Earlier, in this case, the ED had issued three provisional attachment orders, of which-

• 707 acres of Ambi Valley (market value around 1460 crores)
• 1023 acres of Sahara Prime City Limited (price around 1538 crore)
• Mrs. Chandni Roy (wife Frontier Roy) was seized from the Moowable Property (75 crore).

Two big officials related to Sahara Group are currently in judicial custody

The ED has already arrested Anil Velapil Abraham, executive director of Sahara Group Chairman Core Management Office and a long -time property broker Jitendra Prasad Verma. Both are currently in judicial custody. Investigation of ED in this case is going on continuously. There may be more revelations in this case in the coming days.

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