The Enforcement Directorate (ED), Jaipur Zonal Office, provisionally attached immovable and movable properties worth ₹34.91 crore on 6 October 2026 in connection with the Nexa Evergreen investment fraud case, pushing total attached assets in the matter to approximately ₹52 crore. The action was taken under the Prevention of Money Laundering Act (PMLA), 2002, against entities and individuals linked to the Nexa Evergreen network, according to an official statement.

What Was Attached

The latest attachment order covers 69 immovable properties valued at approximately ₹29.37 crore, including land parcels and residential plots at Dholera and Dhandhuka in Ahmedabad district, Gujarat, residential flats in Ahmedabad and Sikar, a plot in Sikar, and a 45 per cent shareholding in Shining Sand Beach Resort, Calangute, Goa. Bank balances and term deposits totalling ₹5.54 crore held across 26 accounts in the names of various Nexa Evergreen entities were also provisionally attached.

The properties were held across multiple entities, including Nexa Evergreen Private Limited, Nexgen Evergreen Energy LLP, Cristal Builders and Developers LLP, Cambridge Builders LLP, and M/s Shree Shardha Nath Infra LLP, as well as in the names of individuals Ranveer Singh (alias Ranveer Bijarniya) and Subhash Chandra Bijorniya and their family members.

How the Fraud Operated

According to the ED, the accused lured investors by falsely claiming their funds would be deployed in land development and plotting projects at Dholera Smart City, Gujarat. Investors were promised assured weekly returns of 3 per cent for 60 weeks or allotment of plots. A multi-level referral scheme offered additional commissions and rewards — including laptops, motorcycles, and cars — for enrolling new investors, the agency said.

The scheme operated from 2019 until January 2023, when weekly payments were abruptly halted and the company's website, mobile application, and offices were shut down. The ED described the arrangement as a classic Ponzi scheme, where funds from new investors were used to pay earlier participants while proceeds were layered through a web of companies, LLPs, partnership firms, and proprietary concerns.

In total, approximately ₹2,676 crore was reportedly collected from investors between 2019 and 2023. According to the company's own software data, 47,664 investors received less than the amount they had put in, resulting in an aggregate shortfall of about ₹932.54 crore, the ED said.

Earlier Actions in the Case

This is not the first enforcement action in the Nexa Evergreen matter. In June 2025, the ED conducted searches under Section 17 of the PMLA at 25 premises across Jaipur, Sikar, Jhunjhunu, and Ahmedabad, resulting in the seizure of cash worth ₹2.05 crore, incriminating documents, and digital devices. Separately, funds of ₹15.31 crore in bank accounts and crypto accounts linked to Nexa Group entities were frozen.

Subhash Chandra Bijorniya was arrested by the ED on 10 August 2026 under Section 19 of the PMLA and is currently in judicial custody at Jaipur Central Jail. The ED investigation was initiated on the basis of multiple FIRs and chargesheets filed by Rajasthan Police against the Nexa Evergreen Group.

Masterminds and Their Methods

Investigators allege that Ranveer Bijarniya and Subhash Chandra Bijorniya exercised complete control over the fraudulent operation. The duo allegedly floated and operated a web of companies in the names of associates and investors specifically for layering and routing the proceeds of crime, the ED said. These entities and their accounts were used for collecting investor funds, inter-account transfers, Ponzi-style return payments, and acquisition of immovable properties — all aimed at concealing the true source and ownership of the money.

What Comes Next

With total attached and frozen assets now at approximately ₹52 crore — against a reported fraud quantum of ₹2,676 crore — investigators are expected to pursue further attachment proceedings as the probe advances. The gap between assets recovered so far and the scale of investor losses underscores the complexity of unwinding such multi-layered Ponzi operations.