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ED Takes Possession of Villas, Land in Munnar in Money Laundering Case Against PFI

The agency said that its probe found ”infusion of a large volume of unaccounted cash in the project, subscription of shares of MVVPL in cash in the name of ghost shareholders, transfer of shares of MVVPL without any consideration, and bogus transfers made to other companies without any supply of goods or services” ....

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ED takes possession of villas, land in Munnar in money laundering case against PFI, ET RealEstate

The assets are worth a total Rs 2.53 crore (book value) and belong to Munnar Villa Vista Pvt Ltd. They were provisionally attached by the federal probe agency on January 7 and the adjudicating authority of the Prevention of Money Laundering Act (PMLA) confirmed it on June 30, the ED said in a statement on Saturday. ....

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