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ED attaches Rs 288-crore assets of Himachal firm, its promoters

YB WEB DESK. Dated: 9/11/2019 7:57:26 PM

The Enforcement Directorate on Wednesday said it has attached assets worth over Rs 288 crore of a Himachal Pradesh-based company and its promoters in connection with multi-crore bank fraud and money laundering case.
It said a provisional order for attachment of land, building, plant and machinery of Indian Technomac Company Limited located at Paonta Sahib in Sirmaur district of Himachal Pradesh, agricultural land owned by its promoter Rakesh Kumar Sharma in Delhi’s Mehrauli and agricultural land in the name of its director Vinay Kumar Sharma at Rampur Majri and Bharapur in Paonta Sahib district, has been issued.
The total value of the attached assets, under the Prevention of Money Laundering Act (PMLA), is Rs 288.91 crore.
The ED filed a criminal case of money laundering against the firm and its promoters based on multiple FIRs filed by the State police.