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Money laundering case: ED attaches Avinash Bhosale’s land worth Rs 4 crore

The ED, in a statement, said the attached land belonging to ARA Properties is where the corporate offices of Avinash Bhosale Infrastructure Ltd (ABIL) are situated. Bhosale is the promoter of the ABIL group of companies.

By: Express News Service | Mumbai |
Updated: August 9, 2021 3:31:06 pm
Avinash Bhosale (Photo Source: abilgroup.com)

The Enforcement Directorate (ED) has provisionally attached immovable assets worth Rs 4 crore of Pune-based businessman, Avinash Bhosale under the Prevention of Money Laundering Act (PMLA).

The ED, in a statement, said the attached land belonging to ARA Properties is where the corporate offices of Avinash Bhosale Infrastructure Ltd (ABIL) are situated. Bhosale is the promoter of the ABIL group of companies.

The ED is investigating Bhosale on the basis of an FIR registered by the Pune Police.

As per the FIR, a plot of land in Pune was transferred by Ranjit Mohite to ARA Properties in violation of the original allotment conditions, which allowed transfers only to the government.

The agency also conducted searches in connection with the case and seized incriminating documents said the ED.

Last month, the ED had summoned Bhosale for recording his statement in the case but he skipped the summons citing the Covid-19 pandemic.

In June, the ED had seized assets worth over Rs 40 crore belonging to Bhosale and his family members in a separate investigation under the Foreign Exchange Management Act, 1999 (FEMA). The probe agency found that Bhosale and his family members had acquired immovable property in Dubai in contravention of FEMA.

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