Archive · 15 Jan 2026
ED Attaches Rs 35.22 Crore in Suumaya Fraud Case
The Directorate of Enforcement (ED) has attached properties worth Rs 35.22 crore belonging to Ushik Gala, the promoter of the Suumaya group.
This action follows Gala's arrest for alleged money laundering.
The ED's investigation was based on a police complaint about Gala and his company, Suumaya Industries Ltd, which is accused of cheating investors out of Rs 137 crore.
The attached properties include bank balances, Demat holdings, mutual funds, and two immovable properties.
The case involves serious financial fraud and embezzlement.
ED attached properties worth Rs 35.22 crore linked to Ushik Gala, promoter of Suumaya Group.
Gala was arrested on November 17 for alleged money laundering.
The investigation was based on an FIR registered by Worli Police Station.
Suumaya Industries Ltd and its promoters are accused of embezzling Rs 137 crore from investors.
The attached properties include bank balances, Demat holdings, mutual funds, and two immovable properties.
- Who
- Ushik Gala, promoter of Suumaya Group
- What
- Provisional attachment of properties worth Rs 35.22 crore
- When
- After arrest on November 17
- Where
- Mumbai, India
- Why
- Allegations of money laundering and embezzlement of Rs 137 crore from investors
- Amount Attached
- Rs 35.22 crore
- Accused
- Ushik Gala, Suumaya Group Promoter
- Charges
- Money Laundering
- Investigation Agency
- Directorate of Enforcement (ED)
- Act Involved
- Prevention of Money Laundering Act (PMLA), 2002
- FIR Registered By
- Worli Police Station
- Amount Embezzled
- Rs 137 crore
- Company Involved
- Suumaya Industries Ltd
