Vuenow cloud particle PMLA case: ED attaches assets worth Rs 19.10 crore, total properties frozen exceed Rs 270 cr

According to the spokesperson, immovable properties belong to Sukhwinder Singh Kharour, Vuenow Infotech Private Limited, Nitin Srivastava and Ruchi Srivastava, as well as family members of Vijay Jha, the accountant of the Vuenow Group. The attached stockholdings are held in the names of Sukhwinder Singh Kharour and Dimple Kharour.

According to an ED official, a portion of laundered money was diverted to a company of Dimple Kharour, who would invest in filmmaking.

Multi-thousand crore ‘scam’

The ED initiated its investigation based on multiple FIRs registered under the Bharatiya Nyaya Sanhita (BNS), 2023, by Gautam Budh Nagar (Noida) police in Uttar Pradesh and the Punjab Police.

According to the investigation, “Kharour, in connivance with other accused persons and entities, orchestrated a multi-thousand crore rupee cloud particle scam, siphoning off hard-earned money of gullible investors for personal gain”.

The business model — based on a Sale and Lease Back (SLB) arrangement involving so-called cloud particles — was found to be substantively non-existent and grossly overstated, with no real underlying commercial activity.

According to the spokesperson, the Directorate found “either no rental income or only insignificant amounts were received from data centre clients, exposing the entire operation as a money rotation scheme rather than a genuine technology business”.

Rs 3,700 crore collected from investors

According to the investigation, “The Vuenow Group collected approximately Rs 3,700 crore from investors under the guise of selling cloud particles. Of this, about Rs 1,800 crore was returned to investors as rent, while the remaining amount constituted Proceeds of Crime (PoC).”

The ED said the diverted funds were used for non-business purposes, including payment of high commissions to channel partners, purchase of luxury vehicles, acquisition of gold and diamonds, routing of hundreds of crores through shell entities, and investment in properties.

Earlier attachments, arrests

The ED had provisionally attached PoC worth Rs 178.12 crore in the form of bank balances, vehicles and immovable properties through an order dated February 6, 2025. An additional Rs 73.72 crore was frozen during search operations on August 14, 2025.

On February 24, 2025, another founder member of the company Arif Nisar was arrested, while Sukhwinder and Dimple Kharour were arrested on February 28, the spokesperson said. All accused are currently under judicial custody.

A Prosecution Complaint against the accused and their related entities was filed before the Special PMLA Court on April 24, 2025.

The ED said further investigation into the case was underway, and additional assets linked to the proceeds of crime might be identified and attached.