ED attaches Rs 64 cr worth demand drafts
There’s no end to City Limouzines Chairman Sayyed Masood troubles. The Enforcement Directorate (ED) has provisionally attached Rs 64 crore worth demand drafts belonging to his company, reports Manish Pachouly.mumbai Updated: Mar 28, 2010 01:20 IST
There’s no end to City Limouzines Chairman Sayyed Masood troubles. The Enforcement Directorate (ED) has provisionally attached Rs 64 crore worth demand drafts belonging to his company.
The ED has attached around 20 demand drafts, made from two banks in Hyderabad and Pune, for 150 days. The demand drafts of one bank in Hyderabad totalled Rs 39 crore while that of the other in Pune and Hyderabad were worth Rs 25 crore.
The attachment was done under the Prevention of Money Laundering Act. During the attachment period, the drafts would remain as it is and cannot be transferred to accounts.
The Economic Offences Wing arrested Masood on February 4 for allegedly cheating thousands of investors worth hundreds of crores. The ED pasted the attachment notice on his office doors on the ninth floor of B Wing, Mittal Tower in Nariman Point on Saturday. The notice, dated February 1, was sent to Masood’s various addresses but returned unaccepted. “Hence, we pasted the notice on his office doors in the presence of two independent witnesses,” an ED official said.
The ED attachment notice also lists all the FIRs registered against Masood. Officials said if their probe is not completed during the provisional attachment period, they will increase the same further after 150 days.