ED attaches UK-based high-value property located near Buckingham Palace in Rs 1,400 crore bank fraud case NEW DELHI: In a case of alleged laundering of Rs 1,400 crore of bank loans, ED on Wednesday said it has attached properties worth Rs 150 crore near Buckingham Palace in the UK belonging to Nitin Kasliwal, former CMD of textile giant S Kumars. Kasliwal is accused of establishing a network of trusts and companies in multiple offshore tax havens, including British Virgin Islands, Jersey, and Switzerland, to launder bank funds. The agency had searched his premises on Dec 23 and seized documents and digital devices. “Investigation found that Nitin Kasliwal through S Kumars Nationwide Ltd cheated the consortium of banks to the tune of Rs 1,400 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 complex structure of private trust and companies in foreign jurisdictions,” the ED said. The agency further said a detailed analysis of documents revealed Kasliwal had established a complex network of trusts and companies in multiple offshore tax havens. “Kasliwal had set up 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 BVI: Catherine Property Holding Ltd, which in turn held ownership of the high-value immovable property in London,” ED said. End of ArticleFollow Us On Social MediaVideosKhaleda Zia’s funeral: EAM Jaishankar Hands Over Modi’s Letter To BNP Chief Tarique Rahman In DhakaThrowback 25: Five Indian Weapons That Crushed Terror And Dominated Pakistan in Operation SindoorTerror, Tariffs, Polls: PM Modi’s Mic-Drop Moments That Set The Agenda In 2025Top Moments Of 2025 When Indian Diplomats Took On Pakistan, Tore Apart Lies & Hypocrisy At UNThrowback 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 Role123Photostories10 South Indian breads that are so soulfulWalking through 2025: The year we put our best foot forwardSkip the crowds in 2026: 10 offbeat destinations in India for New Year travel5 relationship habits to inculcate in 2026 to make it the best year of your lifeFrom soldier to supermodel: 5 looks that made BTS’ V the ultimate fashion muse of 20258 traditional Bengali snacks that are best enjoyed during winterCustard apple: 5 benefits of this creamy seasonal fruit5 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 season123Hot PicksSaudi Strike YemenPAN-Aadhaar link statusBank holiday New YearGold rate todayIncome Tax RefundBahrain Golden Visa 2025Bank Holidays DecemberTop TrendingJustin Thomas Net WorthWWE Star Nikki BellaCardi BCeeDee Lamb Luxury Car CollectionStefon DiggsCaitlin ClarkTom BradyMicah Parsons vs CeeDee Lamb Net WorthNHL Injury UpdateVanessa Bryant
NEW DELHI: In a case of alleged laundering of Rs 1,400 crore of bank loans, ED on Wednesday said it has attached properties worth Rs 150 crore near Buckingham Palace in the UK belonging to Nitin Kasliwal, former CMD of textile giant S Kumars. Kasliwal is accused of establishing a network of trusts and companies in multiple offshore tax havens, including British Virgin Islands, Jersey, and Switzerland, to launder bank funds. The agency had searched his premises on Dec 23 and seized documents and digital devices. “Investigation found that Nitin Kasliwal through S Kumars Nationwide Ltd cheated the consortium of banks to the tune of Rs 1,400 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 complex structure of private trust and companies in foreign jurisdictions,” the ED said. The agency further said a detailed analysis of documents revealed Kasliwal had established a complex network of trusts and companies in multiple offshore tax havens. “Kasliwal had set up 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 BVI: Catherine Property Holding Ltd, which in turn held ownership of the high-value immovable property in London,” ED said.
