ED attaches properties worth Rs. 114 cr of Mumbai businessman.
New Delhi, November 22, 2012
Government
on Thursay said the Enforcement Directorate has attached properties
worth Rs. 114 crore of a Mumbai-based businessman for his alleged
involvement in money laundering.
"Yes, Ms City Realcom and other companies of the City group promoted by Sayed Mohd Masood were found involved in money laundering activities.
"As
a result of investigations conducted by Directorate of Enforcement,
properties worth Rs. 114.83 crore being proceeds of crime involved in
money laundering, belonging to Sayed Mohd Masood, his companies and
family members have been identified and attached under the provisions of
the Prevention of Money Laundering Act, 2002," minister of state for
finance SS Palanimanickam said in a written reply in Rajya Sabha.
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