Bhopal (Madhya Pradesh): The Directorate of Enforcement (ED), Bhopal, has provisionally attached movable and immovable properties worth Rs 280 crore in connection with a money laundering investigation, the officials said here on Friday.
The ED initiated the investigation on the basis of three Prosecution Complaints (PC) filed by Registrar of Companies, Ministry of Corporate affairs, Gwalior, against Peoples International and Services, PGH International, Peoples General Hospital and others under Section 447 of the Companies Act, 2013.
The investigation revealed that the accused enriched themselves using the money received as FDI, using dubious methods and means, adversely affecting the interest of the shareholders of the three companies.
Foreign Direct Investment amounting to Rs 494 crore was received by three companies of the Peoples Group during 2000-2011 and the same were siphoned off in the form of interest-free (or very low interest) ‘loans’, ‘security deposit’, advances and in other such names during 2000 to 2022. The ED had earlier attached assets worth Rs 230.4 crore in this case by issuing a Provisional Attachment Order (PAO) in November 2023.
