The Enforcement Directorate (ED), Mumbai Zonal Office, said that it has provisionally attached movable and immovable properties worth Rs 35.22 crore belonging to the Suumaya Group and its associates under the Prevention of Money Laundering Act (PMLA), 2002. The central investigative agency revealed a multi-crore racket disguised as a Haryana government "Need to Feed" programme.
According to ED press release, the investigation began based on an FIR by Worli Police against M/s Suumaya Industries Ltd and its promoters for allegedly conspiring to siphon off Rs 137 crore from investors by promising future benefits under the programme. The group fabricated a bogus Haryana government contract to secure funds and trade financing, projecting sham business operations as legitimate turnover.
ED sleuths uncovered a complex web where Ushik Gala, a key figure in the group, diverted proceeds to dummy agro trader entities in Delhi and Haryana. No actual agricultural purchases took place; instead, funds were laundered back through cash and RTGS payments via shell companies. Fake invoices and lorry receipts simulated massive trade volumes, generating circular transactions worth Rs 5,000 crore—with only 10% being genuine.
This inflated turnover scheme skyrocketed Suumaya's reported revenue from Rs 210 crore to Rs 6,700 crore in just two years, artificially pumping up share prices of listed group companies and misleading investors.
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"Suumaya created fake invoices and lorry receipts to simulate large volumes of trade, resulting in circular transactions amounting to Rs. 5,000 Crore, only about 10% of which were genuine," ED release reads.
The attached properties include bank balances, Demat holdings, mutual funds, and two immovable assets. "The group systematically converted embezzled funds into fictitious business activity to dupe investors," an ED official stated, adding that further investigations are underway to uncover accomplices and trace the money trail.
Earlier, during the investigation, ED had conducted search operations at 19 locations in Mumbai, Delhi, and Gurgaon. During the searches, ED seized movable assets worth Rs 3.9 Crore and a large volume of financial and digital records, along with documents evidencing the offence of money laundering and diversion of funds. During the course of investigation, ED had arrested Ushik Gala, Promoter of Suumaya Group of companies, under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002 on 71 November 2025.