ED Attaches assests worth Rs 177 cr in NSEL case

New Delhi Dec 27: The Enforcement Directorate on Wednesday had attached assets worth Rs 177 crore, in connection with its money laundering probe in the NSEL case.

ED has said that "it has issued a provisional order for attachment of "ten immovable properties having market value of Rs 177.33 crore under the Prevention of Money Laundering Act in case of NSEL. The said properties are controlled by Surender Gupta of Ms. P D Agro Processors Pvt Ltd and Ms. Dunar Foods Ltd, a major defaulter of NSEL.With this order, the total attachment of assets, in this case, stands at Rs 2,890 crore ."

The ED added that "Ms. P D Agro Processors Pvt Limited has fraudulently obtained huge funds from NSEL by trading on the exchange platform against non-existent/fictitious sale of their commodity, which is paddy/rice. The money trail has revealed that a huge chunk of proceeds of crime has been transferred to Ms. Dunar Foods Ltd, a sister concern of Ms. P D Agro Processors Pvt Ltd "

Earlier ED and Economic Offences Wing of the Mumbai Police have registered a criminal case in 2013 under the PMLA to probe the NSEL and others associated with it.