ED attaches ₹33 cr. of Popular Finance group
The Hindu
Depositors cheated to the tune of ₹1,000 cr.
The Enforcement Directorate (ED) has attached more assets worth ₹33.84 crore of the Popular Finance group, Kerala, and its promoters under the Prevention of Money Laundering Act (PMLA), 2002 in a cheating case.
The attached assets include 11 immovable properties consisting of land and building in Kerala; gold weighing 11.85 kg pledged by the public, which was re-pledged in the name of the promoters and staff of Popular Finance group; 19 fixed deposits of the promoters; cash of ₹3.79 crore; balances in 208 bank accounts of the Popular Finance group entities and its promoters; and 291 treasury deposit accounts.
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