ED attaches Rs 175-cr worth properties of jewellery firm

Image result for ED attaches Rs 175-cr worth properties of jewellery firmHyderabad: A showroom of Kolkata-based Shree Ganesh Jewellery House (India) Limited in Hyderabad was provisionally attached by the Enforcement Directorate (ED) in connection with a bank fraud case on Tuesday.

In all, the ED has attached 48 movable and immovable properties all worth Rs 175 crore of Shree Ganesh Jewellery House. The attached properties comprise showrooms, offices and factories at Kolkata, Siliguri and Howrah in West Bengal along with showrooms in Hyderabad, Mumbai, Pune and Gujarat.

The ED has taken up an investigation against the jewellery house under the provisions of Prevention of Money Laundering Act (PMLA) based on an FIR registered by the Central Bureau of Investigation (CBI) for defrauding the consortium of 25 banks.

[“source=telanganatoday”]