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Assets worth Rs 3,830 crore seized, identified in PMC Bank case: ED

The Enforcement Directorate on Monday said it has seized and identified assets worth Rs 3,830 crore in the PMC Bank money laundering case.  

PTI PTI
New Delhi Published on: October 14, 2019 18:53 IST
PMC Bank 
Image Source : PTI

PMC Bank 

The Enforcement Directorate on Monday said it has seized and identified assets worth Rs 3,830 crore in the PMC Bank money laundering case.
 
The central probe agency said it is valuing a number of properties of Housing Development and Infrastructure Limited (HDIL), its directors, promoters, Punjab and Maharashtra Co-operative (PMC) Bank officials and others.
 
The identified assets will soon be attached under the Prevention of Money Laundering Act (PMLA).
 
"Further probe is in progress to identify and locate the balance proceeds of crime," the Enforcement Directorate (ED) said in a statement.
 
The ED case is based on an FIR filed by the Economic Offences Wing (EOW) of Mumbai police. The central agency had conducted raids in the case early this month.

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