New Delhi, EW Correspondent:
Enforcement Directorate (ED) has provisionally attached properties valued at Rs. 40.62 Crore in the form of 26 residential flats and shops located in the states of Maharashtra and West Bengal. These actions have been taken under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with the case of M/s Geodesic Limited and others.
The total attachment in this high-profile case now stands at an estimated Rs. 57.14 Crore. The ED has been diligently investigating the financial irregularities and alleged money laundering activities associated with Geodesic Limited and its affiliated entities.
The attached properties include a mix of residential flats and commercial shops, spread across two prominent Indian states, namely Maharashtra and West Bengal. This latest move by the Enforcement Directorate is aimed at curbing illicit financial activities and ensuring accountability in cases involving economic offenses.
Officials from the ED have been rigorously pursuing this case, following due legal processes and in compliance with the PMLA, 2002. The provisional attachment of these properties underscores the agency’s commitment to combating money laundering and related financial crimes.
The investigation into Geodesic Limited and the individuals involved in the case continues, as the Enforcement Directorate strives to uncover the full extent of the alleged financial misconduct. The attachment of these assets serves as a significant step in recovering the proceeds of crime and bringing those responsible to justice.
The Enforcement Directorate is determined to leave no stone unturned in its pursuit of justice and maintaining the integrity of the Indian financial system. Further developments in this case are eagerly anticipated as the investigation unfolds.
Excellent write-up