Mumbai, August 13, 2026 (Yes Punjab News)
The Directorate of Enforcement (ED), Mumbai Zonal Office, has filed a prosecution complaint under the Prevention of Money Laundering Act (PMLA), 2002, against four individuals and seven entities linked to the Sai Group over alleged diversion of funds in redevelopment projects across the Mumbai Metropolitan Region.
The charge sheet, filed before the Special Court (PMLA), Mumbai, names Jayesh Vinod Tanna, Deep Vinod Tanna and Vivek Jayesh Tanna, along with seven Sai Group entities.
According to the ED, its investigation followed multiple FIRs registered by Mumbai Police in 2024 under provisions of the Indian Penal Code (IPC) and the Maharashtra Ownership Flats Act (MOFA), 1963.
The agency alleged that promoters of the Sai Group diverted money collected from purchasers of flats and shops in several redevelopment projects instead of using the funds for construction. The alleged diversion involved Rs 43.73 crore, with projects in DN Nagar, Andheri, Kandivali and Goregaon affected.
The ED said the promoters allegedly misled buyers, failed to deliver promised housing units and breached the financial trust placed in them by purchasers and investors.
As part of its action to secure the alleged proceeds of crime, the agency said it had attached assets valued at Rs 43.73 crore under Section 5 of the PMLA. The attached assets include properties in Mumbai and Ahmednagar as well as holdings in the United Kingdom.
With the prosecution complaint now before the Special Court, the allegations and evidence presented by the ED will be examined during the judicial proceedings.
The agency said its action underscores its focus on alleged money laundering linked to real estate and redevelopment projects, particularly cases involving the alleged diversion of funds collected from homebuyers.
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