The Supreme Court on Monday sought the Enforcement Directorate’s (ED) response to an Anil Mithas bail plea in a money laundering case involving the alleged diversion of ₹126.30 crore collected from homebuyers.
A bench comprising Chief Justice of India Surya Kant and Justices Joymalya Bagchi and V Mohana issued notice to the agency. Mithas, the main promoter of Noida-based real estate company Unnati Fortune Holdings Ltd (UFHL), has challenged the Allahabad High Court’s rejection of his bail application.
Allahabad High Court rejected Mithas’s bail plea
The Allahabad High Court rejected Mithas’s bail plea on September 16. It cited the allegation that he diverted Rs 126.30 crore belonging to homebuyers and concluded that the case did not warrant bail.
In its order, the high court also highlighted the broader implications of white-collar crime. It observed that corporate fraud, embezzlement and large-scale financial deception can cause substantial losses to individuals and businesses.
The court said such offences required firm enforcement and accountability, noting that financial crimes can destroy savings and livelihoods.
ED case linked to alleged diversion of homebuyers’ funds
The money laundering case centres on allegations that funds collected from homebuyers by UFHL for its Aranya project were diverted.
The ED’s proceedings stem from first information reports filed by a Special Investigation Team (SIT) constituted by the Uttar Pradesh government. The FIRs concern alleged cheating and fraud by UFHL and its promoters.
Mithas was taken into custody on April 16, 2025.
The Supreme Court’s notice seeks the ED’s response to Mithas’s challenge against the high court order. The allegations remain subject to judicial proceedings.
