The Enforcement Directorate (ED), taking major action against Ghazipur-based M/s Vikas Construction under the Prevention of Money Laundering Act (PMLA), has finally attached 6 immovable properties worth a total of Rs 2.03 crore. This company is believed to be operating under the influence of late Mukhtar Ansari and his close associates. This step of the investigating agency has exposed another part of Mukhtar’s illegal economic network.
ED investigation revealed that the properties which have been attached are registered in the name of Mukhtar Ansari’s close associate Shadab Ahmed and his wife. On the basis of the lookout circular issued by the ED in October 2025, Shadab was taken into custody as soon as he reached Lucknow from Sharjah. Later, he was sent to judicial custody under the non-bailable warrant issued by the court.
Illegal warehouse built on government land, given on lease to FCI
According to ED, Vikas Construction built warehouses by illegally occupying government land at many places including Raini village in Mau district. After this, these illegal structures were given on lease to FCI (Food Corporation of India), which generated huge rental income. Along with rent, NABARD subsidy was also availed and this is how Proceeds of Crime (POC) was created. In the investigation so far, crime proceeds of about Rs 27.72 crore have been identified.
Shadab Ahmed played a big role in money laundering of around Rs 10 crore.
ED revealed that Shadab Ahmed, who was absconding since 2022, played an important role in layering and hiding POC worth about Rs 10 crore. He was working as Director and Authorized Signatory in M/s Agaj Project & Engineering Pvt Ltd and M/s Inizio Network Solution Pvt Ltd. Through these companies, he sent the illegal money received from Vikas Construction here and there under the guise of legitimate transactions and later diverted it into different accounts. The investigation also revealed that in return for helping in laundering, Shadab received Rs 1.91 crore as salary and Rs 74 lakh as unsecured loan, which he used to purchase immovable properties, which have now been attached.
Fourth attachment so far
This is the fourth attachment order issued by ED in the Vikas Construction case. After this action, assets worth Rs 8.43 crore have been seized. The agency said that the investigation of this entire network of money laundering is still going on and more revelations are likely to be made in the coming time.
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