By Arun Sharma, New Delhi

London: The Enforcement Directorate (ED) has seized assets worth approximately ₹150 crore belonging to Indian taxhouse company S. Kumaras National White Limited and its former CEO, Nitin Shambhukumar Kasliwal, near Buckingham Palace in London.


The move comes under the Prevention of Money Laundering Act (PMLA). ED officials revealed that Kasliwal and his family members are the registered owners of the property. They are accused of allegedly defrauding Indian banks of around ₹1,400 crore.


Investigations further uncovered that Kasliwal had established a network of companies across multiple tax havens, including the British Virgin Islands, Jersey, and Switzerland. The ED stated that he created the Messrs Catherine Trust, naming himself and family members as primary beneficiaries. Previously, the trust was known as Surya Trust.


The London-based property now under ED custody is part of the ongoing probe into the alleged bank fraud, reflecting the agency’s commitment to tackling financial crimes on a global scale. Officials said this seizure highlights international collaboration and strengthens efforts to recover assets linked to economic offenses.