New Delhi Sep 20 (UNI) The Enforcement Directorate (ED) Bhopal Zonal Office has attached three immovable properties in Maharashtra worth Rs 1.15 crore in the Zoom Developers Pvt Ltd (ZDPL) bank fraud case.
The ED initiated its investigation based on First Information Reports (FIRs) and charge sheets filed by the Central Bureau of Investigation’s Bank Security and Fraud Cell (BS&FC) in New Delhi and the Economic Offences Wing (EOW) in Mumbai.
The investigation revealed that a portion of the funds (proceeds of crime), which were fraudulently obtained by ZDPL from Punjab National Bank (PNB) and other consortium banks, were layered through joint ventures like Zoom Hindustan Peter Oates JV. These funds were ultimately diverted to entities such as M/s Hindustan Mortar Lining LLP and its associates and were subsequently used to acquire immovable properties.
In this matter, the ED has already issued five Provisional Attachment Orders, seizing movable and immovable properties worth Rs 131.34 crore. A Prosecution Complaint and two Supplementary Prosecution Complaints have also been filed in the case.
Further investigation is underway.
