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ED attaches Rs 234-cr worth assets of Punjab based firm

YB WEB DESK. Dated: 9/20/2019 9:03:15 PM

Assets worth over Rs 234 crore of a Punjab-based company and its promoters have been attached in connection with a money laundering case linked to an alleged loan fraud at the Punjab National Bank (PNB) and others, the ED said on Friday.

It said a provisional order for attachment of the plant and machinery of the company- Kudos Chemie Ltd- located in Kuranwala and Saidpura villages of Mohali district in Punjab has been issued under the Prevention of Money Laundering Act (PMLA).

The central agency said it filed a criminal case against the company and its directors after studying an FIR of the CBI in the same case.

The CBI, it said, had booked the company, its promoters/directors Jitendra Singh, Gurmeet Sodhi, Kabir Sodhi and other private persons.