Bungalow near Mumbai, ₹60 crore jewellery, jet, FDs: All seized in PMC Bank case
1 min read 11 Oct 2019, 10:42 AM ISTThe ED has seized a bungalow in Vasai suburb near Mumbai in connection with PMC Bank case probe ₹60 crore worth jewellery, a business jet, 15 cars, two fixed deposits have already been seized
PremiumMUMBAI : The Enforcement Directorate on Thursday sealed about 5-acre bungalow of a HDIL promoter near Mumbai in connection with its money laundering probe in the Punjab and Maharashtra Co-operative (PMC) bank case, officials said.
They said the property is in Vasai suburb under Palghar district of Maharashtra.
It belongs to a promoter of the Housing Development Infrastructure Limited (HDIL).
The ED is probing alleged financial irregularities under the Prevention of Money Laundering Act (PMLA) after it filed a criminal case recently.
It had seized ₹60 crore worth jewellery, a business jet, 15 cars, two fixed deposits worth ₹1.5 crore and ₹10 crore in connection with the case.
The ED case is based on an FIR filed by the Economic Offences Wing of Mumbai police.
The agency and Mumbai police case, based on a complaint by an RBI-appointed administrator, is against the former bank management and promoters of HDIL.
The complaint was filed last week on charges of forgery, cheating and criminal conspiracy against the officials.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.
