Today, the Enforcement Directorate (ED) officials said they seized 41 properties belonging to Mehul Choksi, one of the main accused in the Punjab National Bank (PNB) fraud. The total cost of the 41 properties amounts more than Rs. 1,200 crore. The ED officials said, “The total value of the 41 seized assets controlled by Choksi is estimated at Rs 1,217.2 crore.”
The list of seized properties includes 17 office premises and 15 flats in Mumbai, a mall in Kolkata, 4 acre farmhouse in Alibaug, Nine flats in Santacruz, four flats in Borivali and at least 231 acres of lands in Nasik, Nagpur, Panvel and Villupuram. Furthermore, the ED also seized a 170 acre park worth over Rs. 500 crores from Hyderabad’s Ranga Reddy District.
The ED, under the Prevention of Money Laundering Act (PMLA) issued an order to attach all the properties to the ongoing case. ED, a probing agency under the Union Finance Ministry is investigating if the PNB’s funds were used by the accused to create illegal assets.