New Delhi, Mar 3 (UNI) The Enforcement Directorate (ED), Kolkata Zonal Office, on Tuesday said it recently conducted search operations at multiple premises in Anantapur (Andhra Pradesh), Ballari (Karnataka), Bhubaneswar, and Berhampur (Odisha) in connection with the sale of a land parcel belonging to Sahara Prime City Limited at Berhampur, Odisha.
The searches were carried out as part of an ongoing investigation in the case of ‘Humara India & others’. An official said that statements of various persons were recorded under Section 17 of the Prevention of Money Laundering Act (PMLA).
During the searches, it was revealed that around 32 acres (out of a total of 43 acres) of land in Berhampur were fraudulently sold in December 2025 on the basis of a revoked Board Resolution in favour of a Sahara employee and in violation of the guidelines of the Supreme Court. The sale was allegedly carried out at the direction of the senior management of the Sahara Group. Discrepancies were also noticed between the declared sale consideration and the estimated market value of the land.
Digital evidence, such as WhatsApp communications, contact details, and call records were recovered and seized. Financial records and books of accounts of the entities concerned, along with other incriminating documents, were also seized for detailed examination.
Earlier, the ED initiated an investigation based on FIRs registered under Sections 420 and 120B of the IPC, 1860, against M/s Humara India Credit Cooperative Society Ltd. (HICCSL) and others by police in several states. More than 500 FIRs have been registered against various Sahara Group entities, with over 300 involving scheduled offences under the PMLA, alleging large-scale cheating of depositors through forced redeposits and denial of maturity payments.
The ED investigation revealed that the Sahara Group was allegedly operating a Ponzi scheme. Funds collected from depositors were reportedly managed in an unregulated manner without depositor oversight. Maturity proceeds were not repaid but instead reinvested, and books were allegedly manipulated to conceal such non-repayments. Various intra-group transactions reflect that huge liabilities were shifted from one entity to another without any commercial rationale. Ultimately, substantial liabilities were shown in four cooperative societies.
Despite financial incapacity, the group allegedly continued to collect fresh deposits. Due to continuous non-repayment of matured deposits, the outstanding liability—comprising a significant interest component—has escalated disproportionately compared to the principal amount originally collected over the years. It was also revealed that substantial deposits were allegedly siphoned off to create benami assets, extend loans, and for personal use, thereby depriving depositors of their legitimate dues.
In this case, five Provisional Attachment Orders have been issued, attaching multiple land parcels of the Sahara Group, including benami lands and assets of other individuals. Further, three individuals have been arrested. Two of the arrested persons—Anil Vailaparampil Abraham and O P Srivastav—continue to remain in judicial custody. One Prosecution Complaint and a Supplementary Prosecution Complaint have already been filed. Further investigation in the matter is ongoing.
