ED Files PMLA Chargesheet in ₹49.45 Crore Loan Fraud Case; Assets Worth ₹12.35 Crore Attached and Seized

The Directorate of Enforcement (ED), Mangalore Sub Zonal Office, has filed a Prosecution Complaint under the Prevention of Money Laundering Act (PMLA), 2002 before the Special Court for PMLA cases at Mangalore on 27 February 2026. The complaint has been filed against Roshan Saldanha, Smt. Dafney Neetu D’Souza, Sunil Ferrao, G Ravi, M/s Yahviivi Ventures Pvt Ltd, and M/s Dubois Production Pvt Ltd in connection with an alleged loan arrangement fraud.

The PMLA investigation was initiated on the basis of multiple FIRs registered during June and July 2025 against Roshan Saldanha, Smt. Dafney Neetu D’Souza, and others. The accused persons allegedly collected money from businessmen under the pretext of stamp duty for arranging loans at low interest rates. However, the promised loans were never arranged.

According to the ED, between October 2024 and July 2025, the accused mobilised approximately ₹49.45 crore through newly created proprietary concerns, including M/s Akshaya Agencies, M/s Balaji Enterprises, and M/s Yahviivi Ventures Pvt Ltd. The funds were allegedly diverted for personal use, business purposes, and siphoned off through dummy entities instead of being used to facilitate loans.

Search operations conducted under Section 17 of the PMLA on 5 August 2025 at five locations in Mangalore resulted in seizure of incriminating documents and freezing of bank accounts and fishing boats worth approximately ₹9.5 crore. Subsequently, movable and immovable properties valued at ₹2.85 crore were provisionally attached under Section 5 of the PMLA.

The prosecution complaint has been filed for offences of money laundering under Sections 3 and 4 of the PMLA. Further investigation is ongoing.