Supreme Court notice to ED on realty company promoter’s bail plea in home buyers’ fraud case
The case pertains to allegations that Anil Mithas, promoter of a Noida-based real estate company, diverted funds collected from homebuyers by UFHL for its Aranya project, prompting money laundering proceedings by the agency
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Updated - October 26, 2026 06:16 pm IST - New Delhi
The Supreme Court on October 26, 2026, sought the ED’s response on bail plea of Anil Mithas in the home buyers’ funds diversion case.
File | Photo Credit: The Hindu
The Supreme Court on Monday (October 26, 2026) sought response from the Directorate of Enforcement (ED) on a plea filed by the main promoter of a Noida-based real estate company seeking bail in a money laundering case involving the alleged diversion of home buyers' funds worth ₹126.30 crore.
A Bench comprising Chief Justice of India Surya Kant and Justices Joymalya Bagchi and V.
Mohana issued notice to the agency on a plea filed by Anil Mithas challenging the rejection of his bail plea by the Allahabad High Court.
Also Read: 54 victims lose ₹4.5 crore in property fraud
The High Court on September 16 had rejected the bail plea of Mithas.
"White-collar crime has grown too pervasive and too costly to be met with anything less than firm, uncompromising enforcement.
Corporate fraud, embezzlement, insider trading, and large-scale financial deception routinely destroy pensions, savings, and livelihoods on a scale that dwarfs the damage caused by many street crimes, yet offenders have often faced comparatively lenient sentences, fines their companies can absorb as a cost of doing business, or plea deals that avoid real accountability," the High Court had said in its order.
The High Court had said that after hearing counsel for the parties and taking into consideration the fact that applicant is charged with the offence of diverting an amount of ₹126.30 crores of various allottees, it was not a fit case for grant of bail to the applicant.
The case pertains to allegations that Mr.
Mithas diverted funds collected from homebuyers by Unnati Fortune Holdings Ltd. for its Aranya project, prompting money laundering proceedings by the agency.
Mr.
Mithas was taken into custody on April 16, 2025.
The money-laundering case stems from FIRs filed by a Special Investigation Team (SIT) formed by the Uttar Pradesh government against Unnati Fortune Holdings Limited (UFHL) and its promoters for "cheating and fraud".
court / company information / investigation / real estate
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