Chennai, June 14: The Enforcement Directorate (ED) on Thursday said it has attached immovable properties, worth Rs 138 crore, belonging to Kanishk Gold Pvt Ltd and its Managing Director Bhoopesh Kumar Jain under the Prevention of Money Laundering Act (PMLA).
In a statement issued here, ED said the 14 immovable properties worth about Rs 138 crore belonging to Kanishk Gold and its Managing Director Jain. On April 24, the ED it has frozen Rs 48 crore worth of properties belonging to Kanishk Gold Pvt Ltd under PMLA. According to ED, a Provisional Attachment Order was issued April 24, attaching properties to the tune of Rs 143.58 crore, which were identified as proceeds of crime committed by Jain along with others, as the same are involved in money laundering. The jewellery company is alleged to have indulged in offences of forgery, cheating and criminal conspiracy against 14 member banking consortium led by State Bank of India (SBI). (IANS)