Enforcement Directorate Seizes Rs 10.9 Crore Hotel Property in Kerala Fraud Case
Synopsis
In a significant development, the Enforcement Directorate has provisionally attached a hotel property in Kerala worth Rs 10.9 crore amidst allegations of fraud and forgery linked to hotel investments. This case unveils serious financial misconduct and ongoing investigations.
Key Takeaways
ED's Action: Provisional attachment of a Rs 10.9 crore hotel property.
Allegations: Fraud and forgery in hotel project investments.
Investigation Trigger: FIR filed against key individuals.
Legal Framework: Action taken under the Prevention of Money Laundering Act.
Ongoing Investigation: Further inquiries are currently underway.
Kochi, March 17 (NationPress) The Enforcement Directorate (ED) has provisionally seized a real estate property valued at Rs 10.90 crore in Kerala as part of a cheating and forgery investigation tied to hotel project investments, officials reported on Tuesday.
The action was executed by the Kochi Zonal Office of the Enforcement Directorate under the Prevention of Money Laundering Act, 2002.
This property is owned by M/s Lokanta Hotels and Resorts Pvt Ltd, with its Director C.K. Vijayan, and is situated in Kannadikadu in the Maradu locality of Ernakulam district. The provisional attachment was enforced via an order dated March 16.
The investigation by the ED was prompted by an FIR filed at the Maradu Police Station against Vijayan and others, citing various sections of the Indian Penal Code related to cheating and forgery.
Officials indicated that the FIR addresses accusations that Vijayan persuaded the complainant, Preetha Radhakrishnan, and her spouse to invest over Rs 10.90 crore in a hotel venture associated with M/s Statice Hotels and Resorts Pvt Ltd.
The ED alleges that the accused secured these funds through deceptive practices, document forgery, and a breach of trust. The case was subsequently reinvestigated by the Crime Branch–Economic Offences Wing in Ernakulam, culminating in a final report submitted to the jurisdictional court in December 2024.
During its investigation under the PMLA, the ED discovered that Vijayan, alongside Shalini Vijayan and Saira Thampi Krishna, as directors of M/s Lokanta Hotels and Resorts Pvt Ltd, reportedly produced crime proceeds nearing Rs 10.90 crore.
Officials noted that these illicit funds were laundered through corporate bank accounts and later used for the hotel's construction.
Based on the evidence collected, the ED proceeded with actions under the PMLA, including the provisional property attachment and the filing of a prosecution complaint before the Special Court (PMLA) in Ernakulam.
The agency confirmed that further investigations are currently ongoing in this matter.
Point of View
This case highlights significant financial irregularities involving prominent individuals and businesses in Kerala. The swift action by the Enforcement Directorate underscores the government's commitment to tackling corruption and safeguarding investor interests in the hospitality sector.
NationPress
9 Aug 2026
Frequently Asked Questions
What is the Enforcement Directorate's role in this case?
The Enforcement Directorate investigates financial crimes and has provisionally attached the hotel property as part of a fraud and forgery investigation.
How much is the attached property worth?
The attached hotel property is valued at Rs 10.90 crore.
Who is the director of Lokanta Hotels and Resorts Pvt Ltd?
C.K. Vijayan is the director of Lokanta Hotels and Resorts Pvt Ltd.
What prompted the ED's investigation?
The investigation was initiated following an FIR filed against C.K. Vijayan and others for cheating and forgery related to hotel project investments.
What law did the ED invoke for this attachment?
The ED acted under the Prevention of Money Laundering Act, 2002.
