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

The identified assets will soon be attached under the Prevention of Money Laundering Act (PMLA).

Topics
Enforcement Directorate | PMC Bank | PMC Bank Crisis

Press Trust of India  |  Mumbai/New Delhi 

Enforcement directorate
Enforcement Directorate

The on Monday said it has seized and identified assets worth Rs 3,830 crore in the 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 (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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First Published: Mon, October 14 2019. 18:30 IST
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