New Delhi, Oct. 22 -- In a significant legal setback to the Sahara Group, the Lucknow Bench of the Allahabad High Court today dismissed a petition filed by four of its cooperative societies seeking to quash a money laundering investigation by the Enforcement Directorate (ED).
The court ruled that the probe under the Prevention of Money Laundering Act (PMLA) is valid and can proceed.
The petition was filed by Humara India Credit Cooperative Society Ltd., Sahara Credit Cooperative Society Ltd., Stars Multipurpose Cooperative Society Ltd., and Saharayan Universal Multipurpose Society Ltd. They had challenged the ED's Enforcement Case Information Report (ECIR) and the search and seizure operations conducted at their offices in July 2024.
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