Land worth Rs 4 crore attached by ED in money laundering case against businessman Avinash Bhosale

By: |
Updated: August 09, 2021 1:05 PM

"Attached property is the land where corporate office(s) of ABIL (Avinash Bhosale Infrastructure Ltd) and its other group companies are situated," the agency said in a statement. "Avinash Bhosale is the promoter of the ABIL group companies," it added.

EDThe agency has issued a provisional order for attaching the land under provisions of the Prevention of Money Laundering Act (PMLA).

The Enforcement Directorate (ED) on Monday said it has attached a plot of land worth Rs 4 crore in Pune as part of a money laundering probe against city-based businessman Avinash Bhosale. “Attached property is the land where corporate office(s) of ABIL (Avinash Bhosale Infrastructure Ltd) and its other group companies are situated,” the agency said in a statement. “Avinash Bhosale is the promoter of the ABIL group companies,” it added.

The land is situated at plot no. 2, Yashwant Ghadge Nagar cooperative housing society, Range Hill Corner on Pune’s Ganeshkhind Road. The agency has issued a provisional order for attaching the land under provisions of the Prevention of Money Laundering Act (PMLA).

The ED case of money laundering against Bhosale is based on a city police FIR where it was alleged that the land “was transferred by Ranjit Mohite to ARA Properties in violation of original allotment conditions existing at that point of time”. “The land could have been transferred only to the government or commissioned officers, being a primary condition at the time of allotment of this land by the government in 1951,” it said.

The statement said raids were earlier carried out by the agency in the case at various places following which “incriminating documents were seized”. “The documents found during the search corroborated the allegations made in the FIR,” the ED claimed. Bhosale has been questioned by the ED in this case earlier. In June, the ED had seized assets worth over Rs 40 crore, including equity and preference shares in three luxury hotels, of Bhosale and his family members in connection with a separate probe linked to alleged violation of the forex law.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Deadlock between Centre and farmers can end only through settlement, not in court: Rakesh Tikait
2Bharat Bandh: Normal life hit in Punjab, Haryana as farmers block highways, rail tracks; no major impact in other states
3Sushil Modi says Narendra Modi India’s only PM to also serve as CM, gets schooled on Twitter