Bhubaneswar: In a fresh development in the Sahara Prime City land case, the Enforcement Directorate (ED) raided multiple premises of the company and its officials in Odisha and two other states.
As per information, the raids led to the seizure of electronic evidence, including WhatsApp communications, contact records, and call details, officials confirmed.
The searches were carried out by the ED’s Kolkata Zonal Office on Tuesday at Bhubaneswar and Berhampur in Odisha. The central agency also raided locations in Anantapur in Andhra Pradesh), and Ballari in Karnataka Bhubaneswar, and Berhampur (Odisha).
Several financial records and incriminating documents were seized for detailed examination during the operation, sources said.
As part of the probe, the ED recorded statements under Section 17 of the Prevention of Money Laundering Act (PMLA), 2002, from various individuals. The case is related to the sale of a land parcel in Berhampur, Odisha, by Sahara Prime City Limited, which was allegedly sold fraudulently.
During probe, it was found that around 32 acres of land out of a total of 43 acres in Berhampur, Odisha, was sold in December 2025 based
on a revoked Board Resolution. The sale was made in favour of a Sahara employee and violated the Supreme Court’s guidelines. The ED pointed out discrepancies between the declared sale consideration and the actual market value of the land.
It was also found that the sale was conducted under the direction of senior Sahara Group management. The investigation has been linked to the case of Humara India Credit Cooperative Society Limited (HICCSL), in which multiple FIRs were registered for cheating of depositors.
According to the ED, Sahara Group’s operations have been identified as a Ponzi scheme. The funds collected from investors were mismanaged, with maturity proceeds reinvested instead of repaid. The group’s financial records showed manipulated books to hide the non-repayment of funds, and liabilities were shifted between different entities without commercial justification.
The investigation showed Sahara Group continued collecting new deposits despite being financially incapable of repaying the matured amounts. This led to increase in liabilities, which included a large interest component. Moreover, substantial amounts were siphoned off to create benami assets and for personal use, depriving depositors of their legitimate dues.
The ED has issued five provisional attachment orders, seizing several land parcels and assets, including benami properties linked to individuals involved in the fraud. Three individuals have been arrested and they remain in judicial custody. A charge sheet and supplementary charge sheet have already been filed in the case.