India, Oct. 7 -- The Enforcement Directorate (ED) has provisionally attached 88.47 acres of land at Alibaug in Raigad district, valued at Rs.336 crore, as part of its money-laundering probe into the alleged fraudulent diversion of funds from a Rs.2,434-crore real estate fund floated by Jai Corp Limited.

The ED's probe was initiated based on a February 2025 case registered by the Central Bureau of Investigation (CBI), following a Bombay High Court order dated January 31, 2025. Jai Corp Limited, Urban Infrastructure Venture Capital Limited (UIVCF), Urban Infrastructure Trustees Ltd and others were named as accused in the CBI case for alleged financial irregularities, diversion of funds and money laundering.

The ED's investigation revealed...