E-Paper
Fresh searches at premises linked to Sahara Group in Lucknow
Enforcement Directorate Kolkata unit intensifies ₹1.79 lakh cr investor fraud probe;incriminating documents and digital records seized
LUCKNOW The Enforcement Directorate (ED) carried out fresh searches at multiple premises linked to the Sahara Group in Lucknow on Friday, more than three months after the agency’s Kolkata unit arrested the group’s former director OP Srivastava on November 20, 2025, in connection with the alleged ₹1.79 lakh crore investor fraud case.
Officials said investigators seized several incriminating documents and digital records during the searches conducted at locations associated with the group’s administrative and financial operations in the city. The documents are believed to contain details related to financial transactions, internal approvals and suspected shell company linkages that are currently under scrutiny.
According to ED sources, the latest searches are part of the agency’s continuing probe following Srivastava’s arrest by the Kolkata unit after prolonged questioning at the ED office in the CGO Complex in Kolkata. Investigators alleged that he attempted to mislead officials and withheld crucial information related to suspected shell company transactions linked to the massive investor fraud case being investigated under provisions of the Prevention of Money Laundering Act.
Officials said the investigation has increasingly shifted focus to Lucknow, which houses several major establishments of the Sahara Group, including the sprawling Sahara Shahar complex and key administrative units. Investigators believe that significant financial decisions, asset transfers and internal approvals related to the alleged laundering network were routed through the group’s Lucknow-based hierarchy.
Documents seized in earlier raids on Sahara-linked properties in Lucknow had reportedly indicated hidden asset transfers, shadow financial structures and links with shell entities. These findings are now being examined alongside the fresh material recovered during Friday’s searches.
ED officials said the agency will also cross-check the seized documents with disclosures made by Srivastava during custodial interrogation. Investigators are examining whether portions of the alleged “secret asset sales” carried out after the death of Sahara founder Subrata Roy were coordinated or executed through entities operating out of Lucknow.
A senior ED official said Srivastava’s name surfaced prominently during the probe after the agency attached around 707 acres of Sahara-owned land as part of the investigation. The land parcels were reportedly linked to holdings processed or controlled through the group’s Lucknow-based network.
Officials believe the arrest and continuing searches could help investigators piece together how investor funds were allegedly diverted and how certain assets may have been disposed of without disclosure. The agency is now mapping the full extent of Sahara’s financial and operational network originating from Lucknow as part of one of the country’s largest money laundering investigations.
