Saradha scam: ED attaches Matang Sinh’s assets worth Rs 100cr in Lutyens Delhi
The agency identified the assets as “7B and C, Doctor’s Lane, Gole Market” and said they have been provisionally attached under the provisions of the Prevention of Money Laundering Act (PMLA).india Updated: Feb 02, 2017 21:02 IST
Enforcement Directorate (ED) on Thursday attached two flats worth Rs 100 crore in the posh Lutyens zone area of the national capital belonging to former Union minister Matang Sinh in connection with its money laundering probe in the Saradha chit fund ponzi scam case.
The agency identified the assets as “7B and C, Doctor’s Lane, Gole Market” and said they have been provisionally attached under the provisions of the Prevention of Money Laundering Act (PMLA).
The immovable assets belong to Sinh and his estranged wife Manoranjana, officials said.
Sinh is in judicial custody at present in this case.
“The value of the attached immovable properties as on April, 2013 is worth approximately Rs 63 crore. However, the present market value of the properties is more than Rs 100 crore.
“Sinh and Manoranjana Sinh are facing trial in the money laundering case before the special court under PMLA at Kolkata,” the agency said.
This is the fifth attachment order issued by the agency in the case where gullible investors from West Bengal and Assam were allegedly cheated of their hard-earned money worth crores.
With the latest action, ED has so far attached properties worth Rs 700 crore in this case.
An attachment under PMLA is aimed to deprive the accused from obtaining benefits of their ill-gotten wealth and such an order can be appealed before the Adjudicating Authority of the said Act within 180 days.