ED attaches Rs 85.20 crore Kolkata land in Unity Infraprojects bank loan case
The ED said it provisionally attached 14.51 acres in Kolkata worth Rs 85.20 crore in the Unity Infraprojects case, in which a CBI FIR alleges a 23-bank consortium was defrauded.
Key points
- The ED said it provisionally attached 14.51 acres of land in Kolkata, valued at Rs 85.20 crore, in the Unity Infraprojects case.
- According to the ED, total assets attached or frozen in the case now stand at about Rs 1,609 crore, against alleged bank dues of about Rs 3,800 crore.
- These are ED allegations; a provisional attachment must be confirmed by the PMLA Adjudicating Authority and the case will be decided in court.
The Enforcement Directorate (ED) said it has provisionally attached about 14.51 acres of land in Kolkata, valued at Rs 85.20 crore, in its money-laundering case involving M/s Unity Infraprojects Limited (UIL). According to the ED's release of 23 October 2026, the land is held in the name of M/s Suburban Agriculture Dairy & Fisheries Pvt. Ltd., which the agency describes as a step-down subsidiary of UIL.
What Happened
The ED's Mumbai Zonal Office-II said its investigation began from an FIR registered by the CBI's Bank Securities & Fraud Branch, Mumbai, on a complaint by the State Bank of India. The FIR alleges that UIL, with its promoters, directors and other entities, defrauded a consortium of 23 banks after availing loans of about Rs 3,200 crore in principal, with total alleged dues of about Rs 3,800 crore including interest.
According to the ED, funds from UIL were diverted through its wholly owned subsidiary, M/s Unity Realty & Developers Ltd., and used to acquire assets through associated entities. The ED alleges that a chain of transactions links the land at Mouza Chakgaria to funds from UIL and its group companies. It attached the property under Section 5(1) of the PMLA to prevent its transfer.
The ED said it had earlier seized or frozen movable assets worth Rs 31.21 crore during searches in July 2025, and attached land and flats worth about Rs 1,493 crore through three orders that the Adjudicating Authority under the PMLA later confirmed. With this attachment, the total value of assets attached or frozen in the case is about Rs 1,609 crore. A prosecution complaint was filed before the Designated Special Court in Mumbai on 27 March 2026, and investigation continues.
These are allegations, not findings of guilt; the accused are presumed innocent until proven guilty in court, and due process continues.
What It Means
A provisional attachment is a temporary freeze that stops the owner from selling or transferring the property while the case goes on. It must be confirmed by the Adjudicating Authority under the PMLA before it becomes firm, and it is not a finding that money was laundered; that will be decided in court.
The release names a group of 23 lending banks but does not say that any depositor's money is affected.
This report describes enforcement actions and allegations on the public record, attributed to the officials cited. An order, FIR or chargesheet is not a conviction; parties are presumed innocent until proven guilty.
Named in this report, or spotted an error? Corrections and responses: editor@oquilia.com. We correct errors promptly and record responses from named parties.
Sources & Citations
- Enforcement Directorate press release — Enforcement Directorate