ED Restores Rs 3,511 Crore Properties to Scam Victims
Enforcement Directorate restored properties worth Rs 3,511 crore to scam victims in 2024–25, with Telangana leading nationwide restitution efforts.
Hyderabad: The Enforcement Directorate (ED) has restored Rs 3,511-crore worth properties to the victims of scams linked to Agri Gold, Sheetal Refineries, Musaddilal Jewellers and GS Oils during the financial year 2024-25. These properties were attached as part of the ED's investigation into these four scams.
The countrywide restitution for frauds reported in the same period was valued at Rs 15,000 crore. Of this, Telangana stood at the top.
Based on documentary evidence, agency officials identified the legitimate owners of these attached properties by finding proceedings of crime in such cases.
Sources said that the officials of the ED, Hyderabad Zone, have attached 43 properties of several accused companies, and its owners and senior leadership, worth Rs 915 crore, and got restitution orders for attached properties worth Rs 3,511 crore to victims/ customers who invested in Ponzi scams, real estate and other cases. This restoration includes Rs 2,565-crore properties of Mehul Choksi in Gitanjali Gems in PNB fraud linked to Hyderabad-based.
The ED officials have also initiated the restitution process for other attached properties, which could be completed this financial year.
Restitution of attached properties
Agri Gold: Rs 3,339 crore (the present market value Rs 6,000 crore)
Sheetal refineries: Rs 30.7 crore
Musaddilal Jewellers: Rs 79. 2 crore
GS Oils: Rs 65.2 crore
Attached properties
March 19, 2025: ED attached immovable property worth Rs 51.29 lakh in the case of misappropriation of funds of Hyderabad Cricket Association (HCA).
Feb 26, 2025: ED attached 22 immovable and eight movable properties worth Rs 7.98 crore in a case related to illegal export of psychotropic substances.
Feb 20, 2025: ED attached immovable properties worth Rs. 5.67 Crore in the form of land, building and factory premises belonging to Lucent Drugs, Sangareddy District.
Feb 14, 2025: ED attached immovable properties worth Rs. 6.47 crore in the case of misappropriation of funds by Go Rural India.
Feb 5, 2025: ED attached an amount of Rs. 51.24 Lakh lying in the bank account of GTN Engineering in connection with a case of environmental and water pollution.