Mumbai/Kolkata: The Enforcement Directorate (ED) has provisionally attached an immovable property spread over about 14.51 acres in Kolkata, valued at Rs 85.20 crore — yaani about Rs 85 crore — in a bank fraud and money-laundering case involving M/s Unity Infraprojects Ltd (UIL) and others, the agency said on Friday, IANS reported.
The land, at Mouza Chakgaria in Kolkata, is held in the name of M/s Suburban Agriculture Dairy & Fisheries Pvt Ltd (SADAFPL). The attachment was made under the Prevention of Money Laundering Act (PMLA), 2002, and brings the total value of assets attached or frozen in the case to about Rs 1,609 crore, NationPress reported.
Source: NationPress — ED attaches Rs 85.2 crore Kolkata land in Unity Infraprojects bank fraud case
The money-laundering investigation stems from an FIR registered by the CBI's Bank Securities and Fraud Branch in Mumbai on a complaint by the State Bank of India. The FIR alleges — these are allegations under investigation, not court findings — that UIL, in connivance with its promoters, directors and associated entities, defrauded a consortium of 23 banks by availing credit facilities of around Rs 3,200 crore, with total outstanding dues including interest estimated at about Rs 3,800 crore, IANS reported.
According to investigators, the alleged fraud involved fictitious transactions, round-tripping of funds, manipulation of financial records and diversion of funds through shell entities, IANS reported.
The ED said its probe found that funds from UIL were routed through its wholly owned subsidiary, Unity Realty & Developers Ltd (URDL), and subsequently used to acquire and hold assets through associated companies, with SADAFPL identified as a step-down subsidiary of UIL through URDL. Investigators said they established a trail linking the Chakgaria land to funds originating from UIL and its group entities, indicating diversion and layering of proceeds from the scheduled offences, IANS reported. NationPress reported the ED filed a prosecution complaint in the case before the designated special court in Mumbai on March 27, 2026, and that further investigation is ongoing.
Source: NationPress — ED attaches Rs 85.2 crore Kolkata land in Unity Infraprojects bank fraud case