Written by: Press Trust of India
2 min readNew DelhiDec 2, 2013 04:09 AM IST
First published on: Dec 2, 2013 at 04:09 AM IST
The Enforcement Directorate ED has attached an estimated Rs 75 crore assets of a borrower company and its associates in connection with money laundering probe in the National Spot Exchange Limited NSEL case.
This is the first attachment order issued by the agency,under Prevention of Money Laundering Act PMLA,in this case and sources said the assets belong to Mohan India and its group companies Tavishi Enterprises Private Limited and Brinda Commodity Private Limited,which owe the investors Rs 922 crore.
They are one of the largest borrowers in the businesses of this exchange,sources said.
The agency had conducted searches on the premises of the company on October 31 and had sealed a number of them in cities like Mumbai,National Capital Region NCR,Lucknow,Punjab and Chandigarh.
The ED had earlier registered a criminal case under PMLA in this case which had rattled the bourse for allegations of large scale financial misdeeds.
The ED,sources said,suspects that the firm laundered huge sums generated from the operations at NSEL and its investigations suggest these funds were ploughed into real estate and other avenues.
A flat in Delhis Jor Bagh area,a villa in Gurgaon,a farmhouse in Kapashera,Delhi,a flat in Mumbai and few other locations in the NCR were searched and have been attached under the latest action,sources said.
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