The Directorate of Enforcement (ED), Bhubaneswar Zonal Office, has provisionally attached immovable property worth ₹24.60 crore under the Prevention of Money Laundering Act (PMLA), 2002, in a money laundering case linked to M/s Maa Tarini Industries Limited (MTIL) and associated entities. The attached asset is the ground floor, first floor, and part of the second floor of Pluto Plaza Mall, located at Chhend, Rourkela in Odisha, held in the name of M/s Pluto Plaza Private Limited, a company controlled by Hanuman Khedaria.

Background and Origin of the Case

The ED's investigation was triggered by an FIR registered by the Central Bureau of Investigation (CBI), Anti-Corruption Branch (ACB), Bhubaneswar, under provisions of the Indian Penal Code, 1860 and the Prevention of Corruption Act, 1988. The FIR named MTIL, its directors, and officials of PEC Limited — a Government of India enterprise under the Ministry of Commerce and Industry.

According to the ED, MTIL allegedly colluded with certain PEC Limited officials to fraudulently secure financial assistance of ₹19.40 crore for the procurement of iron ore, by misrepresenting its financial standing and concealing existing charges over its assets. A related firm, M/s Tathagat Exports Private Limited (TEPL), reportedly availed an additional ₹16 crore from PEC Limited under similar circumstances.

Scale of Alleged Fraud

The ED noted that the total outstanding liability towards PEC Limited — including interest accrued at the time the loan turned non-performing — stood at approximately ₹56.89 crore. Investigators found that funds drawn from PEC Limited were routed through the bank accounts of both MTIL and TEPL and subsequently used to pay share purchase consideration to the erstwhile shareholders of MTIL, among whom was Hanuman Khedaria.

How the Proceeds Were Laundered

The ED's probe established that Khedaria and his associated entities received proceeds of approximately ₹15.31 crore. When a proportionate interest component was factored in, the total traced to him amounted to ₹24.60 crore — the precise figure now attached. According to the agency, these funds were subsequently layered through multiple bank accounts and deployed across cash withdrawals, investments, and business expenses, constituting a classic money laundering trail under the PMLA framework.

What the Attachment Means

'Accordingly, immovable property worth ₹24.60 crore belonging to M/s Pluto Plaza Private Limited has been provisionally attached as value equivalent to the proceeds of crime under the PMLA, 2002,' the ED said in its statement on Tuesday, 3 November 2026. A provisional attachment under PMLA freezes the property from being sold, transferred, or otherwise disposed of, pending adjudication before the Adjudicating Authority. This comes amid a sustained nationwide ED drive targeting diversion of government-backed credit lines, particularly those involving public sector enterprises like PEC Limited.

What Happens Next

The provisional attachment order will be placed before the PMLA Adjudicating Authority, which will determine whether the attachment should be confirmed. If upheld, the property remains frozen for the duration of the trial. The accused may challenge the order before the authority or appeal to the Appellate Tribunal. Given the involvement of a government enterprise and alleged corruption by its officials, the case is also expected to continue on the CBI's criminal track simultaneously.