ED attaches Shine City Group assets

04 Nov 2024 CW Team

The Enforcement Directorate (ED) has seized properties worth ₹74.16 crore belonging to Shine City Group, a company facing allegations of financial mismanagement and fraud under the Prevention of Money Laundering Act (PMLA). Shine City Group is accused of deceiving numerous investors by promoting fictitious real estate projects. The properties attached by the ED are spread across Uttar Pradesh and Delhi, reflecting the scale of alleged financial irregularities tied to this real estate firm.

The ED's investigation revealed that Shine City Group allegedly lured investors with promises of high returns, leveraging lucrative real estate offerings as bait. These alleged schemes targeted thousands of individuals, resulting in significant financial loss to investors. The agency’s action involves the attachment of various assets, including land parcels and residential properties, marking an intensified focus on real estate-related financial offenses. According to the ED, such preventive action is crucial to protect investor interests and deter similar activities within the real estate sector.

The case highlights the ED's commitment to identifying and addressing financial misconduct in the property market, aiming to promote transparency and accountability. The recent attachment is part of an ongoing probe aimed at recovering assets from companies that have engaged in alleged fraudulent schemes under the guise of legitimate investment opportunities.

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..