Overview
- The Enforcement Directorate announced on Monday that it has provisionally attached 389 immovable properties with a book value of about Rs 240.03 crore and a reported present market value above Rs 700 crore.
- The attached portfolio includes 384 commercial units in the Grand Venice Mall, Greater Noida, valued at about Rs 203 crore, and five Goa properties held in the names of India Oceanworld Pvt. Ltd. and Goa Connect Properties Pvt. Ltd. worth about Rs 37 crore.
- Investigators say customer advances collected for the Grand Venezia Commercial Complex were routed through related Bhasin Group companies and used to buy high-value real estate and to shift mall units by allegedly forged or back-dated deals.
- Satinder Singh Bhasin was arrested by the ED in May 2026 under the PMLA and remains in judicial custody while criminal and insolvency proceedings continue against BIIPL, GVCTPL and other group entities.
- Provisional attachment under the PMLA is an interim step to preserve suspected proceeds of crime pending adjudication, and earlier probes in April–June 2025 had produced searches, seized documents and Rs 36 lakh in cash plus a June 2025 attachment of about Rs 27 crore.