ED attaches Rs. 41.70 Cr worth properties in Goregaon Pearl CHS Project

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ED attaches Rs. 41.70 Cr worth properties in Goregaon Pearl CHS Project

March 27, 2026

ETT News / New Delhi

The Directorate of Enforcement (ED) Mumbai Zonal office provisionally attached residential and commercial properties valued at ₹41.70 crore on March 25, 2026, in connection with a money laundering investigation involving the "Goregaon Pearl CHS Project." This enforcement action, taken under the Prevention of Money Laundering Act (PMLA), 2002, targets assets consisting of completed and partially constructed flats, shops, and office spaces in the Goregaon area of Mumbai.

The federal agency initiated its probe following multiple FIRs and subsequent chargesheets filed by the Mumbai Police against M/s Sai Siddhi Developers and its key partner, Jayesh Tanna. Investigators found that the developer allegedly defrauded numerous homebuyers who had paid full or partial considerations for units in the redevelopment project. These victims never received possession of their properties, nor were their funds returned, marking the collected money as "Proceeds of Crime."

ED officials revealed that Jayesh Tanna resorted to various malpractices to divert these public funds for his personal benefit instead of utilizing them for the project's completion. This diversion resulted in a calculated wrongful loss of ₹47.51 crore to the innocent buyers. The Goregaon Pearl project remains stalled, leaving the investors without their promised homes or commercial outlets.

This latest attachment follows a broader crackdown on Tanna and the Sai Group of Companies. In March 2025, the ED conducted search operations across nine locations in Mumbai linked to separate projects. Following those raids, the agency previously attached assets worth ₹35.89 crore belonging to Tanna and his family, including properties located in the United Kingdom.

The Adjudicating Authority under PMLA in New Delhi has already confirmed the prior attachments, validating the agency's findings of a separate ₹45.75 crore money laundering trail. With the latest Goregaon attachment, the ED continues its progress in the investigation to trace further assets and identify additional beneficiaries of the fraud.

ED Mumbai Goregaon Pearl CHS Project Jayesh Tanna Sai Siddhi Developers Goregaon Housing Scam Mumbai Real Estate Fraud ED Attachment PMLA Case Mumbai

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