ED Attaches Rs 6.17 Crore Properties Linked to Kalpataru Group Companies

The Directorate of Enforcement (ED) Lucknow Zonal Office conducted a property attachment worth Rs 6.17 crore against the Kalpataru Group on March 27, 2025. Under the Prevention of Money Laundering Act (PMLA) 2002 the Directorate of Enforcement (ED) attached three properties in the regions of Ahmedabad, Gujarat, Kannauj and Uttar Pradesh that are registered under M/s Kalpataru Group companies and their connected entities.

Following multiple FIRs the ED continues investigating Kalpataru Group for suspected financial impropriety. The agency conducted the previous action on January 28 through a property attachment which resulted in ownership of nine properties worth Rs 30.5 crore.

Multiple First Information Reports filed across India triggered the investigation which charges Kalpataru Group with forgery as well as cheating and embezzlement. Reports indicate Kalpataru Buildtech Corporation Ltd. (KBCL) with its directors and agents took Rs 681 crore in fees by promising plot allocation services to public investors while failing to deliver plot allocations and payment distributions. The investigated funds were directed to build new assets in the group's name and its related businesses.

The ED has conducted asset freezes of more than 400 properties amounting to Rs 83.96 crore which the Adjudicating Authority has confirmed. A Prosecution Complaint was filed against Jai Kishan Singh Rana along with 29 associates including 20 Kalpataru Group companies before the Special Court in Ghaziabad on September 13, 2024 and the Court took cognizance on October 3, 2024. The agency executed property searches on December 18, 2024 at 16 facilities belonging to the group.

The ED demonstrates its anti-money laundering and financial fraud efforts by charging the Kalpataru Group with misuse of public funds through this case. The ongoing investigation will provide further information on the complete extent of the group's business activities.