ED attaches Rs 150 crore London property in Rs 1,400 crore Nitin Kasliwal bank fraud case

The Enforcement Directorate has seized a premium London property adjacent to Buckingham Palace as part of investigations into a ₹1,400 crore bank fraud case related to former S Kumars Nationwide chairman Nitin Kasliwal.
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India’s Enforcement Directorate (ED) has taken possession of a high-value asset in London situated near Buckingham Palace in connection with a ₹1,400 crore banking fraud investigation, authorities confirmed on Wednesday.

The property, estimated at ₹150 crore, is reportedly owned through beneficial arrangements by businessman Nitin Shambhukumar Kasliwal and his family members.

Kasliwal, the former head of S Kumars Nationwide Limited, faces allegations of orchestrating a ₹1,400 crore financial fraud against multiple Indian banks, based on multiple FIRs filed in the case.

The ED’s Indore branch executed a provisional attachment order on December 30, 2025, to secure the overseas asset.

This action follows intensive searches conducted by investigators on December 23 under PMLA provisions, during which evidentiary documents and electronic devices were confiscated.

Detailed examination of seized materials exposed Kasliwal’s intricate network of offshore trusts and corporate entities across tax havens including British Virgin Islands, Jersey, and Switzerland, according to ED officials.

Investigators identified Catherine Trust (originally named Surya Trust) as a key entity controlled by Kasliwal and his family. This Jersey-based trust operated through Catherine Property Holding Limited, a BVI-registered company owning the contested London property.

The ED statement revealed that Kasliwal allegedly diverted funds obtained through banking fraud under the pretext of foreign investments, subsequently acquiring international assets concealed through layers of offshore entities.

Published on January 1, 2026