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Bank fraud: ED attaches over Rs 124-cr assets of media group

 Assets worth over Rs 124 crore of a media group have been attached in connection with a money laundering case against it linked to an alleged bank fraud case, the probe agency said on Tuesday.

Anab Mehdi

Anab MehdiBy Anab Mehdi

Published on 31 Dec 2019 6:44 AM GMT

Bank fraud: ED attaches over Rs 124-cr assets of media group
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New Delhi: Assets worth over Rs 124 crore of a media group have been attached in connection with a money laundering case against it linked to an alleged bank fraud case, the probe agency said on Tuesday.

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The case pertains to Pixion Media Pvt Ltd, Pearl Media Pvt Ltd, Mahuaa Media Pvt Ltd, Pixion Vision Pvt Ltd, Pearl Studio Pvt Ltd, Pearl Vision Pvt Ltd, Century Communication Ltd, and its directors P K Tewari, Anand Tewari, Abhishiek Tewari and others, it said in a statement.

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Properties worth a total Rs 127.74 crore have been attached under the Prevention of Money Laundering Act (PMLA) and they include 11 commercial plots and floors of the group companies in Mumbai, Chennai, Noida and Kolkata, it said.

The group companies "fraudulently" availed loans to the tune of Rs 2,600 crore from banks, the Enforcement Directorate (ED) said.

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(PTI)

Anab Mehdi

Anab Mehdi

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