NEW DELHI: The Enforcement Directorate (ED) on Saturday said that they have attached properties worth Rs 380 crore of a company belonging to Sachin Joshi under Prevention of Money Laundering Act (PMLA).
The ED said that they attached two properties out of which one is in Worli and second is in Pune.
Initially, a case was filed against the firm by Aurangabad Police. The FIR was filed with City Chowk Police Station of Aurangabad. Later the police found that the firm was involved in money laundering. The information was shared with the federal anti money laundering probe agency.
Finally, the ED initiated money laundering investigation on the basis of the FIR.
The ED had conducted a search last year in January and recovered a number of incriminating documents.
After the raid the ED had arrested Babulal Varma, the Managing Director of ORDPL, Kamal Kishore, Chairman of ORDPL and Sachin Joshi.
In March last year, the ED filed first prosecution complaint (chargesheet) before the special Mumbai court.
The ED during investigation found that loan amount Rs 410 crore was fraudulently acquired by Surana Developers Wadala, LLP, a sister concern of ORDPL through falsely increased slum dwellers numbers and FSI.
“Out of Rs 410 crore, an amount of Rs 330 crore was laundered into the sale building of Omkar Group and an amount of Rs 80 crore approximately was laundered through Sachin Joshi and his Group of companies under the guise of services and investment,” said the ED official.
The official said that they were further probing the matter.