Mumbai: The Enforcement Directorate (ED) on Thursday provisionally attached immovable and movable assets worth RS 170 crore belonging to Purushottam Chhaganlal Mandhana, former Chairman and Managing Director of the now-defunct Mandhana Industries Limited (MIL), and others under the Prevention of Money Laundering Act (PMLA), 2002. The attached properties include residential flats and commercial offices located in Mumbai, Thane, Raigad, and Bengaluru, according to officials. The movable assets attached comprise bank balances of Rs 55 lakh, gold and diamond jewellery valued at Rs 41 lakh, shares, securities, sovereign gold bonds, and corporate bonds worth Rs 13 crore.
The ED has also attached three high-end cars worth Rs 84.5 lakh and multiple luxury watches valued at RS 70 lakh. Earlier, the ED had arrested Purushottam mandhana and his son Priyavrat in the case.
However, the special court released the purshottam, stating that his arrest was illegal, while the Bombay high court granted interim bail to the son. Details On The Probe The ED initiated the probe following an FIR registered by the Central Bureau of Investigation (CBI) against Mandhana Industries Ltd (now GB Global Ltd), Purushottam Mandhana, Manish Mandhana, Biharilal Mandhana, and others. The case was filed based on a complaint lodged by the Bank of Baroda, which alleged that the accused defrauded a consortium of banks to the tune of Rs 975.
08 crore. According to the ED, Mandhana Industries and its directors hatched .
