ED attaches assets worth Rs 84.24 crore of promoters of KBC Multitrade pvt ltd

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The Enforcement Directorate (ED) March 19 provisionally attached movable and immovable assets worth Rs 84.24 crore linked to promoters of KBC Multitrade Pvt Ltd under Prevention of Money Laundering Act.

The said company is accused of carrying out a multilevel marketing scheme promising attractive refunds to public on their investment and duping them of more than Rs 200 crore.

The agency probed money laundering matters involving the company and provisionally attached its properties located in Nashik, Thane, Sindurgarh, Pali districts among other areas across Maharashtra and Rajasthan.

The attached assets include both movable and immovable, also the benami properties acquired by the promoters Bhausahab Chavan and his wife Aarti Chavan, and their Demat accounts, post office savings, silver and diamond jewellery/bullion and bank account balances.

Content retrieved from: https://indianexpress.com/article/cities/mumbai/ed-attaches-assets-worth-rs-84-24-crore-of-promoters-of-kbc-multitrade-pvt-ltd-9227516/.

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