Developer’s 20 cr assets seized by ED

The Enforcement Directorate (ED) has recently taken significant action in a money laundering case involving Jyoti Power Corporation Private Limited (JPCPL). The agency has provisionally attached immovable properties valued at ₹15.01 crore, which are currently estimated to be worth ₹20 crore in the market. These properties are registered under the names of JPCPL’s directors, their partners, and family members. This action is part of an ongoing investigation into allegations of fraudulent activities, including the misappropriation of funds and the diversion of loans obtained from banks, such as the Bank of India. The investigation revealed that funds were transferred to various entities and personal accounts, with assets being sold without the bank’s knowledge, and properties subsequently transferred among family members to conceal illicit gains.

This development highlights the ED’s commitment to combating financial irregularities and ensuring accountability within the corporate sector.​

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