ED Restores ₹175 Crore Assets to Homebuyers
The Enforcement Directorate (ED) has returned ₹175 crore worth of assets to 213 homebuyers in Udaipur, Rajasthan. The assets include 354 residential flats, 17 commercial units, and 2 plots from the stalled Royal Rajvilas project. These properties had earlier been attached under the Prevention of Money Laundering Act (PMLA).
Legal and Procedural Background
The attached properties were part of a larger case involving Udaipur Entertainment World Pvt Ltd (UEWPL), accused of defrauding a consortium of banks of ₹1,267.79 crore. The ED had attached assets worth ₹535 crore in connection with the case. Following a Supreme Court order on October 10, 2025, and after scrutiny of claims, the properties were restored to genuine homebuyers.
Supreme Court Reaction
The Supreme Court praised the initiative, stating that it balanced enforcement of money laundering laws with relief for innocent buyers. The bench clarified that this move was specific to the case and should not automatically set a precedent for other matters.
Impact and Next Steps
The decision provides relief to families who had invested in the project over a decade ago but had been unable to take possession due to delays and litigation. With the restitution, the project is expected to move towards completion, enabling rightful buyers to finally secure their homes.
