The Enforcement Directorate has attached assets worth ₹634 crore in Noida linked to Unitech Group, deepening the probe into alleged homebuyer fund diversion.

PMLA priority ruling confirms Bombay High Court limits bank claims over assets attached by Enforcement Directorate.

PMLA priority over bank recovery rules confirms central authority for the Enforcement Directorate in asset cases.

The Enforcement Directorate has successfully facilitated the restoration of ₹650 crore worth of immovable assets to over 2,300 homebuyers impacted by the alleged ₹2,216 crore financial mismanagement by the Faridabad-based SRS group. This move targets proceeds of crime linked to investment diversion.

As lenders grapple to recover their investments from the debt-stricken retailer, the focus has shifted to the potential recovery through the asset held by Bansi Mall Management Co Pvt Ltd (BMMCPL), a subsidiary under the umbrella of the Future Group.

The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFAESI Act) is an essential piece of legislation that provides an effective legal framework for the recovery of defaulted loans in India.