The Enforcement Directorate has attached an immovable property worth Rs 150 crore near the Buckingham Palace in London in a case of alleged bank loan fraud linked to money laundering involving textile major S Kumars Nationwide Ltd and its ex CMD Nitin Kasliwal.
The federal probe agency said in a statement on Wednesday that a provisional order was issued under the Prevention of Money Laundering Act (PMLA) on Tuesday to attach the asset.
The high-value property valued at Rs 150 crore near the Buckingham Palace is held under the beneficial ownership of Nitin Shambhukumar Kasliwal and his family members, the Enforcement Directorate (ED) said.
Kasliwal is accused of defrauding a consortium of Indian banks to the tune of Rs 1,400 crore, it said.
After attaching assets located abroad, the ED approaches its counterpart agencies in that country to take possession of such properties under the criminal provisions of the anti-money laundering law.
The agency alleged that Kasliwal, through S .The Enforcement Directorate has attached an immovable property worth Rs 150 crore near the Buckingham Palace in London in a case of alleged bank loan fraud linked to money laundering involving textile major S Kumars Nationwide Ltd and its ex CMD Nitin Kasliwal.
The federal probe agency said in a statement on Wednesday that a provisional order was issued under the Prevention of Money Laundering Act (PMLA) on Tuesday to attach the asset.
The high-value property valued at Rs 150 crore near the Buckingham Palace is held under the beneficial ownership of Nitin Shambhukumar Kasliwal and his family members, the Enforcement Directorate (ED) said.
Kasliwal is accused of defrauding a consortium of Indian banks to the tune of Rs 1,400 crore, it said.
After attaching assets located abroad, the ED approaches its counterpart agencies in that country to take possession of such properties under the criminal provisions of the anti-money laundering law.
The agency alleged that Kasliwal, through S . Latest News [ SOBAN NEWS: International and National ]
