The Directorate of Enforcement (ED), Mumbai Zonal Office, has provisionally attached immovable assets worth Rs 3.46 crore under the provisions of the Prevention of Money Laundering Act (PMLA) on March 26, 2026.
The attached properties include office units located in Kharghar, Navi Mumbai, linked to the ongoing probe into alleged financial irregularities involving M/s Dnyanradha Multistate Co-operative Credit Society Ltd (DMCCSL).
The investigation stems from multiple FIRs registered across Maharashtra against Suresh Kute and others for allegedly defrauding investors through high-return deposit schemes offering 12–14% interest. Authorities say the schemes attracted large investments but resulted in defaults and partial repayments.
ED findings indicate that nearly Rs 2,467 crore was diverted as unsecured “loans” to entities under the Kute Group, controlled by Suresh Kute and Archana Kute, without proper documentation or collateral. So far, total attachments and seizures in the case have reached approximately Rs 1,625.36 crore. Further investigation is ongoing.
