SC Seeks ED Reply on Builder’s Bail Plea
The plea challenges the Allahabad High Court’s rejection of bail in an alleged homebuyer fund diversion case.
New Delhi: The Supreme Court on Monday sought the Enforcement Directorate's response to a bail plea filed by Anil Mithas, the main promoter of a Noida-based real estate company, in a money-laundering case involving the alleged diversion of Rs 126.30 crore collected from homebuyers.
A bench comprising Chief Justice Surya Kant, Justice Joymalya Bagchi and Justice V. Mohana issued notice to the ED on Mithas' plea challenging the Allahabad High Court's September 16 order rejecting his bail application.
The case concerns allegations that funds collected by Unnati Fortune Holdings Ltd for its Aranya housing project were diverted.
Mithas was arrested on April 16, 2025. The money-laundering investigation stems from FIRs registered by a Uttar Pradesh government-appointed SIT against the company and its promoters for alleged cheating and fraud.
While denying bail, the High Court had observed that white-collar crimes such as corporate fraud, embezzlement and large-scale financial deception could destroy people's savings and livelihoods.
It said such offences required firm enforcement and accountability.