ED attaches UK-based high-value property located near Buckingham Palace in Rs 1,400 crore bank fraud case NEW DELHI: The Enforcement Directorate (ED) has attached a United Kingdom-based high-value property located near Buckingham Palace in a Rs 1,400 crore bank fraud case, the agency said on Wednesday.The property, valued at approximately Rs 150 crore, is being held under the beneficial ownership of businessman Nitin Shambhukumar Kasliwal and his family members. Kasliwal, former Chairman and Managing Director of S Kumars Nationwide Limited, is accused of defrauding a consortium of Indian banks by Rs 1,400 crore, according to multiple First Information Reports.ED’s Indore sub-zonal office issued the Provisional Attachment Order (PAO) on December 30, 2025, to attach the high-value property.The move comes a week after the ED, during the course of investigation, conducted searches under section 17 of the Prevention of Money Laundering Act (PMLA), 2002, on December 23 and seized various incriminating records along with digital devices in the case.Officials in the ED said a detailed analysis of the seized material revealed that “Kasliwal had established a complex network of trusts and companies in multiple offshore tax havens, including the British Virgin Islands (BVI), Jersey, and Switzerland.””The investigation uncovered that Nitin Kasliwal had set up a trust named Catherine Trust (formerly Surya Trust), in which he and his family members were the primary beneficiaries. This trust controlled a company based in Jersey and the British Virgin Islands, ‘Catherine Property Holding Limited (CPHL)’, which in turn held ownership of the said high-value immovable property in London,” the agency said in a statement.During the course of investigation, ED has found that “Kasliwal, through S Kumars Nationwide Limited, cheated the consortium of banks to the tune of Rs. 1400 crore and also diverted the funds outside India in the guise of foreign investments and thereafter acquired immovable assets outside India which were concealed through a complex structure of private trust and companies in foreign jurisdictions.” End of ArticleFollow Us On Social MediaVideosThrowback 2025: Five Big Moments When India Defied Pressure And Delivered Diplomatic MasterstrokesAyodhya Faced Conspiracies But Sanatan Prevailed, UP CM Yogi Adityanath Says At Ram Temple EventIndia’s Backyard In Flux: Nepal’s Gen Z Revolt To Pakistan’s Court Chaos Shakes South Asia In 2025Army Trains Village Defence Guards In J&K In Automatic Rifles, Self-Defence | WatchLeT Deputy Saifullah Kasuri Admits India Hit Terror Camps, Threatens Kashmir After Op Sindoor StrikeTwist in Osman Hadi Murder Case: Prime Accused Blames Jamaat From Dubai, Clears India’s Role‘Remove 10-Minute Delivery Option’: Gig Workers Launch Nationwide Strike On New Year’s EvePM Modi Says 2025 Marked by India’s Commitment to ReformsHasina Extradition Demand May Redefine India Bangladesh Ties Journalist Flags Tarique Rahman’s Plans”To Build Peace That Lasts”: China Claims Credit for India-Pakistan Conflict, Follows Trump123Photostories5 common foods that are unhealthy and their alternative usesMalala Yousafzai once said, “If we want to achieve our goal, then let us…”: 5 lessons it teaches studentsHrithik Roshan’s girlfriend Saba Azad’s luxe choga suit is the traditional trend to watch this seasonPune’s Next Game-Changer: University Road Flyover Rises To Untangle One Of The City’s Worst Traffic Knots10 weird new year rituals you won’t believe existHow to make street-style Egg Chowmein for New Year eve partyChennai’s Underground Push: TBM Melagiri Punches Through Beneath Perambur’s Railway MazeThe science of longevity: Building a longer and healthier life one habit at a timeFrom Akshaye Khanna’s FA9LA memes to Ram Charan’s ‘Peddi’ dance and the Coldplay kiss-cam moment: How 2025 turned pop culture into a nonstop viral loopHow the right words can turn mistakes into learning moments123Hot PicksSaudi Strike YemenPAN-Aadhaar link statusBank holiday New YearGold rate todayIncome Tax RefundBahrain Golden Visa 2025Bank Holidays DecemberTop TrendingJustin Thomas Net WorthLebron JamesCardi BAlex Rodriguez and Jaclyn Cordeiro Net WorthStefon DiggsCaitlin ClarkMatthew Stafford vs Drake MVPWest Bengal SIR DeathJake Paul and Jutta Leerdam Net WorthWorld Fourth Largest Economy
NEW DELHI: The Enforcement Directorate (ED) has attached a United Kingdom-based high-value property located near Buckingham Palace in a Rs 1,400 crore bank fraud case, the agency said on Wednesday.The property, valued at approximately Rs 150 crore, is being held under the beneficial ownership of businessman Nitin Shambhukumar Kasliwal and his family members. Kasliwal, former Chairman and Managing Director of S Kumars Nationwide Limited, is accused of defrauding a consortium of Indian banks by Rs 1,400 crore, according to multiple First Information Reports.ED’s Indore sub-zonal office issued the Provisional Attachment Order (PAO) on December 30, 2025, to attach the high-value property.The move comes a week after the ED, during the course of investigation, conducted searches under section 17 of the Prevention of Money Laundering Act (PMLA), 2002, on December 23 and seized various incriminating records along with digital devices in the case.Officials in the ED said a detailed analysis of the seized material revealed that “Kasliwal had established a complex network of trusts and companies in multiple offshore tax havens, including the British Virgin Islands (BVI), Jersey, and Switzerland.”“The investigation uncovered that Nitin Kasliwal had set up a trust named Catherine Trust (formerly Surya Trust), in which he and his family members were the primary beneficiaries. This trust controlled a company based in Jersey and the British Virgin Islands, ‘Catherine Property Holding Limited (CPHL)’, which in turn held ownership of the said high-value immovable property in London,” the agency said in a statement.During the course of investigation, ED has found that “Kasliwal, through S Kumars Nationwide Limited, cheated the consortium of banks to the tune of Rs. 1400 crore and also diverted the funds outside India in the guise of foreign investments and thereafter acquired immovable assets outside India which were concealed through a complex structure of private trust and companies in foreign jurisdictions.”
