You are here: Home » News-ANI » National
Business Standard

ED attaches Rs. 14.69 crores under PMLA

ANI  |  New Delhi [India] 

The on Tuesday attached Rs. 14.69 crores of Pune's Worldwide Oilfields Machine and others under the Prevention of Money Laundering Act (PMLA) for illegal currency conversion post

The (CBI) and Anti Corruption Branch (ACB) registered an FIR against Worldwide Oilfields Machine Director Sudhir Puranik, CFO Mangesh Annachhatre and Satyen Gathani of Ishanya

Motors Pvt. Ltd. based on the report of (Investigation), wherein it was alleged that M/s Worldwide Oilfields Machine Pvt. Ltd. had amassed huge new high denomination currency notes through various persons.

Accordingly, the investigation under the provisions of PMLA, 2002, was initiated against M/s Worldwide Oilfields Machine Pvt. Ltd. and others by the Directorate of Enforcement based on the said FIR registered by

Puranik and Annachhatre got the demonetised currency converted through Gathani and Shah and their associates who converted the same after charging hefty commission post

The said proceeds of crime amounting to Rs. 14.69 crores have now been provisionally attached under the on Monday

Further investigation is in progress.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 21 2017. 12:07 IST