 "NSEL scam: ED attaches assets of borrower firm worth Rs 100 cr")
New Delhi: The Enforcement Directorate hasattached a fresh estimated Rs 100 crore assets of a borrower company and its associates in connection with money launderingprobe in the National Spot Exchange Limited (NSEL) scam case.
The agency’s latest action, under Prevention of MoneyLaundering (PMLA) laws, had been taken against the borrowercompany and its two group companies, which owe the investorsRs 922 crores, sources said.
The ED had earlier attached Rs 75 crore assets belongingto the same firms.The latest attachment of about Rs 100 croreincludes properties in Delhi and national capital region.
[caption id=“attachment_1260729” align=“alignright” width=“380”]  Representational image. PTI[/caption]
The firms are one of the largest borrowers in thebusinesses of this exchange.
The ED is probing the case alongside the EconomicOffences Wing (EOW) of the Mumbai Police. The agency had conducted searches on the premises of thecompany on 31 October and had sealed a number of them in
cities like Mumbai, national capital region, Lucknow, Punjaband Chandigarh.
The ED had earlier registered a criminal case under PMLAin this case which had rattled the bourse for allegations oflargescale financial misdeeds.
The ED, sources said, suspects that the firm launderedhuge amounts of sums generated from the operations at NSEL andits investigations suggest these funds were ploughed into realestate and other avenues.
A flat in Delhi’s Jor Bagh area, a villa in Gurgaon, afarmhouse in Kapashera, a flat in Mumbai and few other
locations in the NCR were searched and have been attachedunder the latest action, sources said.
An attachment action under money laundering laws is meantto deprive the accused of the benefits of the ill-gottenproperty or assets.
The order can be challenged before the AdjudicatingAuthority of PMLA within 180 days.The ED, according to its probe till now, found no sugarstocks in the name of the firm which were reflected in theoriginal documents.
PTI
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