Mumbai, July 25 — The Enforcement Directorate secured from the Special Court (PMLA), Mumbai, an order to confiscate a flat in Thane (West) belonging to a co-accused in a financial fraud and partner in an infrastructure company, an official said on Saturday.
The Special Court ordered the confiscation of the Proceeds of Crime under Section 8(7) of the PMLA in the matter of Yescube Infrastructure.
The confiscation order was given in connection with a money laundering case involving Sandeep Shukla and others of the Directorate of Enforcement (ED), Mumbai Zonal Office.
The Special Court, vide its order dated July 18, allowed the application filed by the ED in PMLA Special Case No. 12 of 2018 and ordered the confiscation of Flat No. 901, 9th Floor, Ruby Building, Regency Tower, Building No. 1, Ghodbunder Road, Thane (West) to the Central government.
The ED initiated an investigation based on FIR No. 136/2010 dated April 8, 2010, which was later transferred to the Economic Offences Wing (EOW), Mumbai, and re-registered as C.R. No. 22/2010.
Following investigation, the EOW filed a charge sheet on March 13, 2013 against Sandeep Lalbahadur Shukla, Manoj Lalbahadur Shukla, Sebastin Michael Pereira and Nilesh Dattatrey Mhatre, alleging that they had jointly established Yescube Infrastructure Ltd., operating through its registered office in Borivali (West), Mumbai, and several branch offices across Maharashtra.
Investigation revealed that the accused fraudulently floated various investment schemes through false newspaper advertisements, promising unrealistically high returns and tentative ownership of land/property without having any feasible business model, the ED said.
They illegally collected money from investors, causing wrongful loss to the public and wrongful gain to themselves, it said.
Investigation further revealed that the accused opened and operated bank accounts in the name of Yescube Infrastructure Ltd. with various banks, through which a total amount of Rs 27.92 crore (approx.) was collected, out of which Rs 18.62 crore (approx.) was repaid and the remaining Rs 9.30 crore (approx.) constituted the wrongful gain forming the "Proceeds of Crime".
Further, investigation revealed that a part of the cash withdrawn amount was deposited in the bank accounts in the name of Manoj Shukla and Urmila Shukla.
During the course of investigation, it was evident that the aforesaid bank accounts were used for payment to a builder in respect of the purchase of a flat situated at Thane and for purchasing a car in the name of their mother.
It was established that the said flat and car were acquired from the Proceeds of Crime and were therefore liable for attachment under Section 5(1) of the PMLA, 2002, the ED said.
Accordingly, the ED provisionally attached the said properties, valued at Rs 1.28 Crore, comprising a flat worth Rs.1.25 Crore and a Car worth Rs. 3 Lakh vide Provisional Attachment Order dated October 11, 2017.
The attachment was subsequently confirmed by the Adjudicating Authority under Section 8(3) of the PMLA vide order dated March 19, 2018. Thereafter, a Prosecution Complaint dated July 3, 2018 was filed before the Special Court (PMLA).
Further investigation revealed that Sandeep Shukla and Manoj Shukla absconded despite the issuance of Proclamation Notices and Non-Bailable Warrants against them. Consequently, the Special Court (PMLA), vide order dated August 8, 2025, separated the trial against them. Thereafter, the Court declared them proclaimed offenders. Subsequently, on December 5, 2025, the Court also framed charges against the remaining accused.
As accused Sandeep Shuka and Manoj Shukla continued to remain absconding, and the trial could not commence, this Directorate had filed an application under Section 8(7) of the PMLA, 2002 before the Special Court.
After considering the material placed on record, the Special Court allowed the application and passed an order in favour of this Directorate to confiscate the said property, the ED said.