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Rs 14.69 crores attached by ED for illegal conversion of old currency
The Enforcement Directorate on Tuesday attached Rs 14.69 crores of Pune\'s Worldwide Oilfields Machine and others under the Prevention of Money Laundering Act (PMLA) for illegal currency conversion post demonetization.
New Delhi: The Enforcement Directorate on Tuesday attached Rs 14.69 crores of Pune's Worldwide Oilfields Machine and others under the Prevention of Money Laundering Act (PMLA) for illegal currency conversion post demonetization.
The Central Bureau of Investigation (CBI) and Anti Corruption Branch (ACB) registered an FIR against Worldwide Oilfields Machine Director Sudhir Puranik, CFO Mangesh Annachhatre and Satyen Gathani of Ishanya Motors Pvt Ltd based on the report of Income Tax (Investigation), wherein it was alleged that M/s Worldwide Oilfields Machine Pvt Ltd had amassed huge new high denomination currency notes through various persons.
Accordingly, the investigation under the provisions of PMLA, 2002, was initiated against M/s Worldwide Oilfields Machine Pvt Ltd and others by the Directorate of Enforcement based on the said FIR registered by Pune CBI. Puranik and Annachhatre got the demonetized currency converted through Gathani and Bharat Shah and their associates who converted the same after charging hefty commission post demonetization.
The said proceeds of crime amounting to Rs 14.69 crores have now been provisionally attached under the PMLA on Monday.
