Dehradun. The Uttarakhand government has attached three properties belonging to LUCC scam accused Sameer Agrawal and his associates under the Banning of Unregulated Deposit Schemes (BUDS) Act, 2019. The properties will now be auctioned through court proceedings, and the proceeds will be used to compensate investors who lost money in the alleged fraud.
The Finance Department has also initiated the process to attach and auction properties linked to the accused in other states. Officials said coordination is underway with the governments of Uttar Pradesh and Maharashtra to begin similar action in those states.
The Central Bureau of Investigation (CBI) had registered an FIR in the case in November 2025 and launched an investigation into the alleged investment scam. So far, seven accused, including Sameer Agrawal’s brother-in-law, have been arrested.
During the investigation, the CBI found that money collected from investors was allegedly used to purchase several movable and immovable assets. Many of these properties are located in Maharashtra, including high-value plots in Mumbai reportedly worth over ₹100 crore. Several properties have also been identified in Ballia, Uttar Pradesh.
After verifying the assets, the CBI submitted details of 34 properties to the Uttarakhand government between April and now. These properties are to be attached and auctioned under the provisions of the BUDS Act to facilitate the recovery of investors’ funds.
As part of the first phase, the Finance Department has attached three properties located in Uttarakhand. The department will now submit its report to the Special BUDS Act Court, which will initiate the legal process for auctioning the assets.
Finance Secretary Dilip Jawalkar said the report on the attached properties is being forwarded to the court, after which the auction process will begin. He added that discussions are also underway with authorities in Uttar Pradesh and Maharashtra to start attachment proceedings against properties located in those states, paving the way for further recovery of investors’ money.
