ED Attaches Rs 14.60 Bn Aamby Valley Property in Sahara Case

17 Apr 2025 CW Team

Aamby Valley City, developed by the Sahara group in the early 2000s, is situated in the Sahyadri mountain range in Pune district. Promoted as India’s first planned hill city, it features premium infrastructure such as an airstrip, helipads, golf courses, artificial lakes, villas, chalets, and cottages. Despite its grandeur, the project has faced legal and financial complications over the years, primarily due to alleged diversion of investor funds and tax violations.

The ED’s Kolkata office issued the provisional attachment order under the Prevention of Money Laundering Act (PMLA). The investigation was triggered by three separate cheating cases registered against Humara India Credit Co-operative Society (HICCSL) in Odisha, Bihar, and Rajasthan. Further scrutiny revealed over 500 FIRs against Sahara-linked entities, with more than 300 involving money laundering offences.

The ED found that the Sahara group had raised around Rs 240 billion from over 10 million investors through HICCSL and other firms. These funds were misused, with depositors and agents misled by promises of high returns and commissions. Rather than repaying matured deposits, the group allegedly encouraged reinvestment in alternate schemes, while manipulating financial records to obscure the transactions.

Part of the misappropriated funds was used to create benami properties and support the personal expenses of certain individuals. Additionally, cash transactions were involved in the disposal of some assets. The ED has recorded multiple statements and seized nearly Rs 30 million during earlier searches conducted in Mumbai, Kolkata, and Lucknow.

News source: Hindustan Times

The Enforcement Directorate (ED) has provisionally attached 707 acres of land located in and around Aamby Valley City in Lonavala, valued at approximately Rs 14.60 billion. This move is part of an on-going money laundering investigation against the Sahara group. The land in question was reportedly acquired using benami names and funded through diverted money from Sahara group entities. Aamby Valley City, developed by the Sahara group in the early 2000s, is situated in the Sahyadri mountain range in Pune district. Promoted as India’s first planned hill city, it features premium infrastructure such as an airstrip, helipads, golf courses, artificial lakes, villas, chalets, and cottages. Despite its grandeur, the project has faced legal and financial complications over the years, primarily due to alleged diversion of investor funds and tax violations. The ED’s Kolkata office issued the provisional attachment order under the Prevention of Money Laundering Act (PMLA). The investigation was triggered by three separate cheating cases registered against Humara India Credit Co-operative Society (HICCSL) in Odisha, Bihar, and Rajasthan. Further scrutiny revealed over 500 FIRs against Sahara-linked entities, with more than 300 involving money laundering offences. The ED found that the Sahara group had raised around Rs 240 billion from over 10 million investors through HICCSL and other firms. These funds were misused, with depositors and agents misled by promises of high returns and commissions. Rather than repaying matured deposits, the group allegedly encouraged reinvestment in alternate schemes, while manipulating financial records to obscure the transactions. Part of the misappropriated funds was used to create benami properties and support the personal expenses of certain individuals. Additionally, cash transactions were involved in the disposal of some assets. The ED has recorded multiple statements and seized nearly Rs 30 million during earlier searches conducted in Mumbai, Kolkata, and Lucknow. News source: Hindustan Times

Real Estate

08 May 2026

Integrated Waterproofing Strategies

Waterproofing buildings used to be an annual pre-monsoon affair but the evolution of real-estate development has changed that approach. In new developments, developers are weaving waterproofing solutions into both the design and construction phases, an approach that Nikhil Madan, Managing Director, Mahima Group, says, “is all about ensuring lasting durability [of the building] and keeping lifecycle risks including water seepage and extensive maintenance to a minimum.”Watertight by designAluminium formwork systems aren’t commonly thought of as a waterproofing tool but at the Mahima Group,..

Infrastructure Urban

08 May 2026

GROHE Showcases Water-Led Design At Milan

GROHE unveiled its GROHE SPA Aqua Sanctuary at Milan Design Week 2026, transforming Piccolo Teatro Studio Melato into an immersive showcase of water, design and wellbeing. Built on the philosophy of ‘Wellbeing Through Water’, the installation reimagined bathrooms as holistic spaces for relaxation, rejuvenation and self-care.The Aqua Sanctuary was presented through three interconnected sanctums. The first showcased the 3D-printed GROHE SPA AquaTree shower and faucet, highlighting bespoke innovation and biophilic design. The second featured the Atrio Private Collection and GROHE SPA x Buster..

Infrastructure Transport

08 May 2026

Rahee Group Expands Rail Manufacturing Capacity

Rahee Group has outlined a multi-year investment roadmap to expand its operational footprint and strengthen manufacturing capabilities for India’s growing railway and urban transit sector. The Group is expanding in Odisha with a new Track Component Casting Unit, for which the groundbreaking ceremony was held on 8 April 2026 in the presence of Odisha Chief Minister Mohan Charan Majhi.The Group’s flagship EPC arm, Rahee Infratech Ltd, continues to focus on complex rail infrastructure projects, including track systems, bridges, viaducts and ballastless infrastructure. Its wholly owned subsidi..