New Delhi, June 25: The Central Bureau of Investigation (CBI) has successfully seized 23 properties linked to the M/s Loni Urban Multi State Credit and Thrift Cooperative Society (LUCC) chit fund case. These properties are located in Uttarakhand, Uttar Pradesh, and Mumbai.
During the investigation into the LUCC chit fund case, the CBI identified several properties acquired by the accused in connection with this fraud. Subsequently, the CBI obtained seizure orders for six properties in Uttarakhand through the competent authority. Similarly, 16 identified properties in Uttar Pradesh were seized after obtaining authorization from the designated BUDS Act court in the state.
Additionally, one property in Mumbai has also been authorized for seizure by the designated BUDS Act court in Maharashtra, and the CBI is in the process of obtaining a seizure order from the competent authority in Uttarakhand. Efforts to identify the remaining properties are ongoing. To date, assets worth ₹25 crores have been seized.
It is noteworthy that the CBI registered this case in 2025 after taking over several FIRs from the Uttarakhand High Court’s order, under various sections of the IPC, BNS, BUDS Act, and UPID Act. In this fraud case, the accused misled over 1.6 million depositors, embezzling ₹419 crores.
The CBI has arrested seven main accused individuals involved in this case, who are currently in judicial custody. The investigation is ongoing.
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