The Enforcement Directorate today attached a spinning mill plant in Andhra Pradesh, worth 84 crore rupees, in connection with its money laundering probe in the National Spot Exchange Limited, NSEL scam. This attachment of the asset, under the Prevention of Money Laundering Act, is a rare case where the agency has seized and enforced its orders on an entire mill premises.The central probe agency's Mumbai unit had registered a criminal FIR in this case in October last year to probe money laundering instances in the 5,600-crore rupees scam. It has, so far, attached assets to the tune of over 500 crore rupees of the defaulting firms and is conducting a parallel probe in this case alongside the Mumbai police and other agencies.
News On AIR | August 22, 2014 9:16 AM
NSEL scam: In a first, ED attaches AP spinning plant