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ED arrests owner of Greater Noida's Grand Venice Mall in money laundering case

30 May 2026

According to investigators, Bhasin and the other accused collected crores of rupees from investors in real estate projects by promising the timely delivery of commercial units. However, the projects were allegedly neither completed nor handed over to buyers.
ED arrests owner of Greater Noida's Grand Venice Mall in money laundering case

Grand Venice Mall Owner Arrested in Money Laundering Case

The Enforcement Directorate (ED) has arrested Satinder Singh Bhasin, the owner of the Grand Venice Mall in Greater Noida, on charges of money laundering.

Charges Against Bhasin

Bhasin, the promoter of Bhasin Infotech and Infrastructure Pvt Ltd (BIIPL), was arrested in connection with a money laundering case linked to the alleged non-delivery of real estate units and diversion of investors' funds.

Previous Supreme Court Action

  • The Supreme Court directed the ED to take Bhasin into custody on May 15, after he evaded multiple summons and failed to cooperate with the investigation.
  • A fortnight prior, the apex court directed the Uttar Pradesh Police to issue lookout notices at all airports against Bhasin.
  • The direction followed a plea filed by real estate buyers, which alleged that Bhasin had wilfully evaded arrest and defied judicial directions despite an April 2, 2026 order cancelling his bail.

Allegations Against Bhasin

The ED launched its investigation based on multiple FIRs registered by the Uttar Pradesh Police against Bhasin, BIIPL, Grand Venice Group entities, Quincy Bhasin, and others under various provisions of the Indian Penal Code.

Provisional Attachment of Bhasin's Residence

The agency had provisionally attached Bhasin's residence in Delhi's Rajouri Garden, currently valued at Rs 44.06 crore.

Allegations of Fund Diversion

  • Bhasin and the other accused allegedly collected crores of rupees from investors in real estate projects by promising the timely delivery of commercial units.
  • The projects were allegedly neither completed nor handed over to buyers.
  • Funds collected from investors were allegedly diverted and dissipated through a network of group companies and associated entities instead of being used for the construction and development of the promised projects.

Bhasin has been remanded to ED custody till June 6 by a Special PMLA Court in Uttar Pradesh's Ghaziabad.

Related:
  • Uttar Pradesh Police
  • Grand Venice Mall
  • Money Laundering
  • Satinder Singh Bhasin