In a major legal setback for the Sahara Group, the Lucknow Bench of the Allahabad High Court on Wednesday dismissed a petition by four Sahara cooperative societies challenging an Enforcement Directorate (ED) money laundering probe, media reports say.
The petitioners-Humara India Credit, Sahara Credit, Stars Multipurpose, and Saharayan Universal Multipurpose Societies-sought to quash the ED’s ECIR and July 2024 searches.
Justice Subhash Vidyarthi upheld the ED’s jurisdiction, noting the societies’ head offices in Lucknow and seized records there. The court clarified that the PMLA case, based on over 300 FIRs nationwide, is independent of any single FIR and can proceed. Other objections, including overlaps with SFIO probes and BUDS Act provisions, were also rejected.
