Karnataka HC on Ozone Urbana case: ED attachment of ₹423.38 crore and 2022, 2025 ECIRs upheld

Direct fact

In October 2025, the High Court of Karnataka, through Justice M. Nagaprasanna, refused to quash money-laundering proceedings against Bengaluru-based Ozone Urbana Infra Developers after the ED attached assets worth ₹423.38 crore and cited ECIRs from 2022 and 2025.

Key specifics

• The ED’s provisional attachment order dated October 4, 2025 covered properties worth ₹423.38 crore.
• The case involved more than 1,351 homebuyers and alleged collections of about ₹927.22 crore.
• The court referred to ECIRs registered in 2022 and 2025 against the company and its promoters.
• A CBI FIR, registered pursuant to Supreme Court directions, alleged a collusive nexus between builders and financial institutions.
• The alleged scheme promised “No Pre-EMI till delivery of possession” and involved loans disbursed directly to the builder.

Exam lens

Polity and governance plus economy-linked legal issues, ED attachment, ECIR, CBI FIR, money laundering, homebuyer protection; TNPSC may ask which agency attaches assets, what ECIR means, and why economic offences are treated seriously.