Jaipur ED attaches properties worth Rs 34 crore in Nexa Evergreen investment fraud
Jaipur, Oct 9 (IANS) In fresh action in an investment fraud, the ED provisionally attached immovable and movable properties having a total value of Rs 34.91 crore and held by entities and individuals associated with Nexa Evergreen, an official said on Friday.
The Enforcement Directorate (ED), Jaipur Zonal Office, provisionally attached the properties under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, said the official.
The attachment order was issued on October 6, 2026, in connection with the money laundering investigation related to the Nexa Evergreen fraud case, the official said in a statement.
The attached properties comprise 69 immovable properties valued at approximately Rs 29.37 crore, including land parcels and residential plots situated at Dholera and Dhandhuka in Ahmedabad district, Gujarat, residential flats at Ahmedabad and Sikar, a plot at Sikar, and a 45 per cent shareholding in Shining Sand Beach Resort, Calangute, Goa, the ED said.
In addition, balances amounting to Rs 5.54 crore lying in 26 bank accounts and term deposits maintained in the names of various Nexa Evergreen entities have also been provisionally attached, the ED said.
The attached properties were held in the names of various entities and individuals associated with the Nexa Evergreen network, 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 Ranveer Singh, Subhash Chandra Bijorniya and their family members, the ED said.
The ED investigation was initiated on the basis of multiple FIRs and chargesheets filed by Rajasthan Police against the Nexa Evergreen Group in connection with a large-scale investment fraud.
The investigation revealed that the accused, in conspiracy with their associates, lured investors by falsely claiming that the funds would be invested in land development and plotting projects at Dholera Smart City, Gujarat, the ED said.
Investors were induced to invest on the promise of assured weekly returns of 3 per cent for 60 weeks or allotment of plots, while additional commissions and rewards, including laptops, motorcycles and cars, were offered for enrolling new investors under a multi-level referral scheme, the statement said.
The scheme continued till January 2023, when the weekly payments were abruptly stopped, and the website, mobile application and offices were shut down, said the ED.
The ED investigation revealed that Ranveer Bijarniya and Subhash Chandra Bijorniya exercised complete control over the entire fraudulent operation. They floated and operated a web of companies, LLPs, partnership firms and proprietorship concerns in the names of associates and investors for layering and routing the proceeds of crime, it said.
These entities and their bank accounts were systematically used for collection of investors’ funds, inter-account transfers, payment of returns to earlier investors in the nature of a Ponzi scheme, and acquisition of immovable properties, thereby concealing the true source and ownership of the funds, the agency said.
The investigation revealed that about Rs 2,676 crore was collected from a large number of investors between 2019 and 2023 through the Nexa Evergreen Group by Ranveer Singh alias Ranveer Bijarniya and Subhash Chandra Bijorniya alias Subhash Chandra Bijarniya, along with their associates, the ED said.
As per software data of the company, 47,664 investors received less than the amount invested by them, resulting in an aggregate shortfall of about Rs 932.54 crore, the ED said.
Earlier, the ED had conducted searches under Section 17 of the PMLA in June 2025 at 25 premises located in Jaipur, Sikar, Jhunjhunu and Ahmedabad. The searches resulted in the seizure of cash amounting to Rs 2.05 crore, various incriminating documents, records and digital devices.
Funds amounting to Rs 15.31 crore lying in bank accounts and crypto accounts linked with various Nexa Group entities and their associates were frozen, the ED said.
Subhash Chandra Bijorniya was arrested by the ED on August 10, 2026, under Section 19 of the PMLA and is presently in judicial custody at Jaipur Central Jail, the ED said.
With the latest provisional attachment of assets worth Rs 34.91 crore, the total value of assets attached or frozen in the case has reached approximately Rs 52 crore, comprising properties and cash, bank and crypto account balances seized during the course of investigation, the ED said.
–IANS
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