ED attaches properties worth ₹33.80 cr of city builder

The attached assets are in the form of agricultural land, residential flats, commercial tenements and bungalows in various parts of Mumbai and Ahmednagar district.

MUMBAI: The Enforcement Directorate (ED) on Tuesday provisionally attached properties worth ₹33.80 crore belonging to builder Jayesh Tanna and his family members, and associate firms and companies, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. Tanna has been accused of cheating flat buyers in his projects in DN Nagar, Andheri, Kandivali and Goregaon.

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The attached assets are in the form of agricultural land, residential flats, commercial tenements and bungalows in various parts of Mumbai and Ahmednagar district.

ED had initiated the money laundering investigation on the basis of multiple FIRs registered by Mumbai police under various sections of the Indian Penal Code, 1860, against Jayesh Vinodkumar Tanna and his brother Deep Vinodkumar Tanna - both promoters of Sai Group of Entities, and others. Subsequently, chargesheets were filed by the police in the majority of the cases against them.

ED investigation revealed that the promoters of Sai Group resorted to various malpractices to divert funds of flat/shop buyers, in its proposed redevelopment projects, for their personal benefits, leading to non-delivery of the projects and losses to buyers, old tenants (original society members) and investors to the tune of ₹85.75 crore in their various projects in the city and the suburbs.

Earlier, on March 5, 2025, the agency had carried out searches at nine premises in Mumbai belonging to Sai Group, its promoters, their family members and associates, leading to recovery and seizure of various incriminating documents and details of illegitimately acquired assets.