Lucknow ED files complaint against Shine City

09 Oct 2024 CW Team

The Enforcement Directorate (ED) in Lucknow has filed a prosecution complaint against the Shine City Group under the Prevention of Money Laundering Act (PMLA). This legal action follows investigations into alleged financial irregularities involving the real estate developer, raising significant concerns within the industry.

The complaint accuses Shine City Group of engaging in practices that violate anti-money laundering regulations, prompting the ED to take decisive steps to hold the company accountable. The allegations suggest that the group may have misused funds collected from investors, leading to substantial financial losses for stakeholders involved in various projects.

This prosecution aims to safeguard investor interests and uphold transparency within the real estate sector, which has faced scrutiny over financial misconduct in recent years. By targeting companies engaged in such practices, the ED seeks to reinforce regulatory compliance and restore confidence among consumers and investors.

The legal proceedings against Shine City Group underscore the government's commitment to combating money laundering and ensuring that real estate developers adhere to ethical business practices. As the investigation unfolds, it is expected to shed light on the company's operations and provide a clearer picture of the extent of any wrongdoing.

The outcome of this case could have broader implications for the real estate market in Lucknow and beyond, as it serves as a reminder of the importance of regulatory oversight in protecting the interests of investors and maintaining the integrity of the sector. The ED's actions reflect a concerted effort to enhance accountability and deter potential malpractices in the industry.

Infrastructure Urban

09 Jan 2026

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant advancement in the company's commitment to engineered performance, manu..

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..