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Ed
– Image: ANI (file)
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The Mumbai Regional Enforcement Directorate (ED) has seized immovable and movable assets worth Rs 170 crore of Purushottam Chhaganlal Mandhana, former chairman and managing director of M/s Mandhana Industries Limited (MIL) and others in a Prevention of Money Laundering Act (PMLA) 2002 case.
These properties include residential apartments and commercial offices located in Mumbai, Thane, Raigad and Bangalore. The movable assets include a bank balance of Rs 55 lakh, gold jewelery and diamonds worth Rs 41 lakh, shares/securities/sovereign gold bonds/corporate bonds worth Rs 13 crore, three expensive cars worth Rs 84.5 lakh and Rs 70 lakh in the value of many expensive watches. are included.
ED started investigation on the basis of FIR filed by CBI, BS&FB (Mumbai) against Mandhana Industries Limited (now GB Global Limited), Purushottam Mandhana, Manish Mandhana, Biharilal Mandhana and others. This FIR is based on a complaint filed against Bank of Baroda and a consortium of other banks for defrauding Rs 975.08 crore.
Mandhana Industries Limited (MIL) and its directors are accused of causing unfair losses and profits to banks by diverting loan funds through fraudulent transactions and circular trading. CBI is yet to file a chargesheet in the case.
(Except translation, this story has not been edited by achinews staff and is published from a syndicated feed.)
source link https://www.amarujala.com/india-news/mumbai-mandhana-industries-assets-worth-rs-170-crore-attached-in-money-laundering-case-2024-09-27
