Enforcement Directorate attaches Kolkata land in Unity Infraprojects fraud case

The Enforcement Directorate (ED) has provisionally attached approximately 14.51 acres of land in Kolkata, valued at Rs 85.20 crore, in connection with a bank fraud and money laundering investigation involving Unity Infraprojects Ltd. (UIL).

The property, located at Mouza Chakgaria, is held by Suburban Agriculture Dairy & Fisheries Pvt. Ltd., identified as a step-down subsidiary of UIL. The investigation follows a CBI complaint by the State Bank of India alleging that UIL and its associates defrauded a consortium of 23 banks of approximately Rs 3,200 crore in credit facilities, with total outstanding dues reaching roughly Rs 3,800 crore.

Investigators claim the fraud involved fictitious transactions, manipulation of financial records, and the diversion of funds through shell entities. The ED stated that funds from UIL were routed through its subsidiary, Unity Realty & Developers Ltd., to acquire assets through associated companies.