Indian agency seizes London property worth $18M linked to $180M bank fraud by former Indian exec.

The Enforcement Directorate has attached a London property worth about Rs 150 crore near Buckingham Palace in a Rs 1,400 crore bank fraud case involving former S Kumars Nationwide Ltd chairman Nitin Kasliwal. The asset, owned through offshore entities and trusts including the Catherine Trust, was seized under a provisional order under India’s PMLA. The ED alleges Kasliwal diverted fraud proceeds abroad via complex international structures in the British Virgin Islands, Jersey, and Switzerland, and plans to work with foreign authorities to recover the property. The move follows raids on December 23 that uncovered incriminating records and digital evidence.