NEW DELHI -- The Enforcement Directorate(ED) has attached ₹ 263 crore worth assets of Ms Deccan Chronicle Holdings Limited in connection with a bank fraud money laundering case.
Officials of the ED said today that the provisional order for attaching assets totalling ₹ 263.10 crore has been issued by the agency against the company and others under the provisions of the Prevention of Money Laundering Act (PMLA).
The ED had booked a case against the company and others based on a CBI FIR.
The case pertains to the alleged default of ₹ 357 crore loan from Canara Bank by the firm and others.
The attachment of assets under PMLA is aimed at depriving the accused of taking benefits of their ill-gotten wealth and such an order gets confirmed after a directive is passed by the Adjudicating Authority of the said Act within 180 days.
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