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ED Seizes ₹1,460 Crore Aamby Valley Land in Sahara Group Money Laundering Case

The Enforcement Directorate has attached 707 acres of land and seized ₹2.98 crore in cash as part of its probe into Sahara Group's alleged Ponzi scheme and financial irregularities.

Billed as independent India’s first planned hill city, Aamby valley City comprises three man-made lakes and 11 water bodies in the picturesque Sahyadri range. (Photo credit: aambyvalley.com)
Money laundering by Sahara group: ED attaches ₹1,460-cr Aamby Valley property
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Overview

  • The ED has provisionally attached 707 acres of land in Aamby Valley City, Lonavala, valued at ₹1,460 crore, purchased using funds allegedly diverted from Sahara Group entities.
  • ₹2.98 crore in unexplained cash was seized during searches conducted under Section 17 of the Prevention of Money Laundering Act (PMLA).
  • The probe revealed Sahara Group operated a Ponzi scheme through multiple cooperative societies, luring depositors with promises of high returns while diverting funds for benami assets and personal expenses.
  • Over 500 FIRs have been registered against Sahara Group entities, with more than 300 cases involving serious offences under the PMLA.
  • The ED's investigation, ongoing since 2010, has involved recording statements from depositors, agents, and employees, uncovering extensive financial manipulation and fund diversion.