ED attaches properties of Samruddha Jeevan Foods worth Rs 101 cr
The Enforcement Directorate (ED) on Tuesday attached assets amounting to Rs 101.30 crore under the provisions of the Prevention of Money Laundering Act, 2002 linked to Samruddha Jeevan Foods India Ltd. (SJFIL) owner Mahesh Kisan Motewar
The Enforcement Directorate (ED) on Tuesday attached assets amounting to Rs 101.30 crore under the provisions of the Prevention of Money Laundering Act, 2002 linked to Samruddha Jeevan Foods India Ltd. (SJFIL) owner Mahesh Kisan Motewar. Motewar is accused of duping nearly 20 lakh investors of Rs 3, 500 crores through a Ponzi scheme.
The agency attached immovable properties of Motewar in the form of lands, residences, shops and offices, spread across eight states including Maharashtra. These assets were purchased in the names of Samruddha Jeevan Foods India Ltd., Motewar, and his family members. As per the agency Motewar, used to collect investment and deposits from the gullible investors with the help of chain of his well-paid commission agents.
They used to promise the investors that their money would be invested in the rearing of goats and the buffaloes promising them unreasonably high returns on their investments. Earlier in June 2017, the ED had attached properties worth Rs. 207 Crore including a Bell makes helicopter worth Rs. 3.43 Crore in the same case. Total attachment in this case until now is Rs.308 Crores. The matter is under investigation.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
DISCLAIMER: mid-day and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.
Cops seize drugs worth Rs 2,000 Cr in Thane