The Enforcement Directorate (ED) on Thursday, March 21, attached movable and immovable assets including the benami properties acquired by the promoters Bhausaheb Chhabu Chavan, Arati Bhausaheb Chavan and others worth Rs 84.24 crores in multilevel marketing scheme case.
The ED also seazed DEMAT Accounts, Post Office savings, silver and diamond jewellery/bullion and bank account balances located in Nashik, Thane, Sindurgarh, Pali Districts among other areas across Maharashtra and Rajasthan.
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On March 15, probe agency had said that they have carried out search operations against the promoters and directors of KBC KBC Multitrade Pvt Ltd across multiple locations in Maharashtra.
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Earlier in March, the ED began search operations under the provisions of Prevention of Money Laundering Act (PMLA), 2002, at eight official and residential premises of the promoters and directors in Nashik and Thane. On March 11, a bank locker in Anand Nagari Sahakari Patsanstha Maryadit belonging to a person named Sanjay Panchariya was searched. During the search operation, documents related to 20 properties valued at Rs 62 crore were seized.