4 months ago
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The Enforcement Directorate (ED) has issued a provisional attachment bid related to a spot worthy ₹150 crore located successful a premier country of London, adjacent the Buckingham Palace.
The spot is being held nether the beneficial ownership of Nitin Shambhukumar Kasliwal and his household members. He is the erstwhile president and managing manager of S. Kumars Nationwide Limited, and is accused of cheating a consortium of Indian banks to the tune of ₹1,400 crore arsenic per aggregate First Information Reports (FIRs), the bureau said connected Wednesday (December 31, 2025).
Mr. Kasliwal had established a analyzable web of trusts and companies successful aggregate offshore taxation havens, including the British Virgin Islands, Jersey (a ‘self-governing’ land successful the English Channel), and Switzerland, the ED alleged.
“The probe uncovered that Nitin Kasliwal had acceptable up a spot named Catherine Trust (formerly Surya Trust), successful which helium and his household members were the superior beneficiaries. This spot controlled a institution based successful Jersey and British Virgin Islands ‘Catherine Property Holding Limited (CPHL)’, which successful crook held ownership of the said high-value immovable spot successful London,” the bureau said.
Mr. Kasliwal, done S. Kumars Nationwide Limited, cheated the consortium of banks and besides diverted the funds extracurricular India successful the guise of overseas investments, and thereafter acquired immovable assets extracurricular India which were concealed via a analyzable operation of backstage trusts and companies successful overseas jurisdictions, it is alleged.
