ED attaches Aamby Valley in Lonavala in case against Sahara Group

Tue, 15 April 2025

18:32

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The Enforcement Directorate on Tuesday said it has attached the 707-acre luxurious Aamby Valley City and its picturesque surroundings in Maharashtra's Lonavala, worth Rs 1,460 crore, as part of a money laundering investigation against the Sahara Group.

The residential and entertainment city nestled in the Sahyadri mountain ranges in Pune district was once touted by its creators as "India's first planned hill city" boasting of large golf courses, lakes, villas, chalets and cottages for "premium living".

It is located about 110 km from Mumbai and around 90 km from Pune, two of Maharashtra's metropolitan cities that offer jobs, opportunities and a large platform for a host of businesses.

The federal agency said in a statement that a provisional order has been issued by its Kolkata office under the Prevention of Money Laundering Act to attach the Aamby Valley City.

This land was purchased in "Benami" names with funds "diverted" from Sahara Group entities, it said.

A total of 707 acres in and around Aamby Valley City, Lonavala, having approximate market value of Rs 1,460 crore has been attached in the case of Sahara India and its group entities, the agency said.

The money laundering case stems from more than 500 FIRs filed by various state police departments.

Three FIRs registered against Humara India Credit Cooperative Society Ltd and others by Odisha, Bihar and Rajasthan police, apart from over 500 such complaints filed against Sahara Group entities and related persons, have been analysed by the ED. -- PTI

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