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Note ban: ED attaches Rs 14.69 cr assets of Pune firm

Press Trust of India  |  Pune 

The ED has attached assets worth Rs 14.69 crore of a firm here in connection with a money laundering case registered post

The agency said it has issued a provisional order attaching "an amount of Rs 14.69 crore in case of Ms Worldwide Oilfields Machine Private Limited, Pune, involved in post frauds".

The ED had registered a criminal case against the firm, its executives and others based on a FIR which was filed after an department report had alleged that the accused "amassed huge new high denomination currency notes through various persons".

The attachment of assets under the Prevention of Money Laundering Act is aimed to deprive the accused from taking benefits of their ill-gotten wealth and such an order gets confirmed after a directive is passed by the Adjudicating Authority of the said Act within 180 days.

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

First Published: Tue, March 21 2017. 16:23 IST