In the latest developments, The Enforcement Directorate (ED) has attached assets worth Rs 263.10 crore of M/s Deccan Chronicle Holdings Limited in a bank fraud money laundering case. The news was confirmed by ED officials on Tuesday morning as the directorate issued a provisional order for attaching assets totalling Rs 263.10 crore. This order has been issued against the Deccan Chronicle group and others under the provisions of the Prevention of Money Laundering Act (PMLA).
The case was booked against the Deccan group and other companies involved in the fraud after a CBI FIR. The case pertains to the alleged default of Rs 357 crore loan from Canara Bank by the firm and others. After the implementation of this order, the accused won’t be able to take benefits of the ill-gitten wealth. This type of order gets a confirmed directive by Adjudicating Authority of the said Act within 180 days. So, the decision cannot be delayed.
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A few days back, the Enforcement Directorate (ED) on attached assets worth Rs. a0 crores (market value) of Bengal India Global Infrastructure Director Bipin Kumar Vohra in a bank fraud case. The Directorate attached Vohra’s four flats in Kolkata and two flats in Gurugram worth Rs. 10 crores. In this matter, three FIRs were filed by different banks under Sections 120B r/w Sections 420, 467, 468 and 471 of the IPC.
Later in the week, it issued a show cause notice to the owners of Kolkata Knight Riders Shah Rukh Khan, his wife Gauri Khan and Bollywood actress Juhi Chawla for violating the FEMA guidelines. The notice was issued by ED under Rule 4(1) of Foreign Exchange Management (Adjudication Proceedings and Appeal Rules), 2000 for alleged fraud of Rs 73 crores in foreign money.