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The Enforcement Directorate has recovered and restored ₹15,000 crore to a Supreme Court-appointed committee, offering hope to investors defrauded by the massive PACL Ponzi scheme. IMAGE: Illustration: Uttam Ghosh/Rediff.comKey PointsThe Enforcement Directorate (ED) has restored over ₹15,000 crore to a Supreme Court committee for victims of the PACL Ponzi scheme.The PACL (Pearls Group) Ponzi scheme allegedly defrauded investors of approximately ₹48,000 crore.A special PMLA court ordered the ...Read More >
Chennai: Enforcement Directorate (ED) has restituted 27 properties worth 163.85 crore of Nathella Sampath Jewellery Private Limited (NSJPL) and others located in the city to the State Bank of India (SBI), in connection with the 380 crore bank fraud case filed against the firm.ED had initiated a probe under the PMLA based on a 2018 CBI FIR, in which SBI, on behalf of the consortium of three banks, alleged that NSJPL diverted the loan of 380 crore for unintended purposes and defaulted on repayment ...Read More >
Chennai, Sep 15 (SocialNews.XYZ) The Chennai Zonal Office of the Enforcement Directorate (ED) has restituted 27 immovable properties worth Rs 163.85 crore to the State Bank of India (SBI) in connection with the Rs 380 crore bank fraud involving Nathella Sampath Jewellery Private Limited (NSJPL). The restitution followed orders issued by the Special Court in Chennai under Section 8(8) of the Prevention of Money Laundering Act (PMLA), 2002. The case dates back to March 2018, when the Central Bur ...Read More >
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