The Enforcement Directorate (ED) has provisionally attached Aamby Valley City in Lonavala, Maharashtra, valued at ₹1,460 crore, under the Prevention of Money Laundering Act (PMLA), in connection with a probe into financial irregularities by the Sahara Group. The 707-acre luxury township, described as India’s first planned hill city, includes lavish amenities such as golf courses, lakes, villas, chalets, and cottages. The ED claims the land was purchased using funds diverted through “Benami” transactions, and the property was allegedly developed using illegally raised public deposits.
The investigation stems from over 500 FIRs across multiple states, involving entities like Humara India Credit Cooperative Society Ltd and several other Sahara-linked cooperatives and corporations. According to the ED, the group lured investors with promises of high returns and commissions, only to cheat them by switching or re-depositing funds without consent, manipulating accounts to show false repayments, and continuing to accept deposits despite failing to meet maturity payouts. Funds were allegedly siphoned off for personal luxuries, and earlier searches led to the seizure of ₹2.09 crore in unexplained cash.