The Enforcement Directorate (ED) has provisionally attached a high-value property worth approximately Rs 150 crore located near Buckingham Palace in London, the central agency said in a press release on Wednesday. The attachment was made on Tuesday in connection with a case of alleged bank fraud and money laundering.
The property is held under the beneficial ownership of Nitin Shambhukumar Kasliwal, who is the former chairman and managing director of S Kumars Nationwide Limited, and his family members, ED said. He is accused of defrauding a consortium of Indian banks to the tune of around 1,400 crore, the agency noted, adding that multiple FIRs have been registered against Kasliwal.
According to the ED, the attachment follows extensive investigations into the claims against the accused. “During the course of the investigation, ED conducted searches on December 23 and seized various incriminating records along with digital devices. A detailed analysis of the said material revealed that Nitin Kasliwal had established a complex network of trusts and companies in multiple offshore tax havens, including the British Virgin Islands (BVI), Jersey, and Switzerland,” the ED said.
ED, Indore Sub-Zonal Office has issued Provisional Attachment Order on 30.12.2025, attaching a high-value property (valued at approximately Rs. 150 Crore) located in a prime area of London, United Kingdom, near Buckingham Palace under PMLA, 2002 beneficially owned by Nitin pic.twitter.com/2ids3lhSAG
— ED (@dir_ed) December 31, 2025
The ED said that its probe uncovered that the accused had set up a trust named Catherine Trust, which was formerly known as Surya Trust. Kasliwal and his family members were the primary beneficiaries in the said trust, the agency said while mentioning its findings.
Catherine Trust controlled a company based out of Jersey and the British Virgin Islands, it added. According to the ED, the trust-controlled entity, in turn, held ownership of the property that has now been attached in London.
“During the course of the investigation, the ED found that Nitin Kasliwal through S Kumars Nationwide Limited cheated the consortium of banks to the tune of Rs 1,400 crore. He also diverted funds outside India in the guise of foreign investments and thereafter acquired immovable assets outside India, which were concealed through complex structure of private trust and companies in foreign jurisdictions,” the ED further said.
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Published On:
Jan 1, 2026
