Assets of Rs 101 crore of Samruddha Jeevan Foods India seized by ED
Written by : SMTV24x7 | Tue, Mar 13, 2018, 10:17 PM
New Delhi, March 13: The Enforcement Directorate (ED) on Tuesday said that it has attached assets worth Rs 101 crore of Samruddha Jeevan Foods India Ltd (SJFIL) group which siphoned off Rs 3,500 crore from over 20 lakh people across India through its ponzi schemes.
The agency attached immovable properties worth Rs 101.30 crore of the Pune-based firm under the Prevention of Money Laundering Act.
These properties were purchased in the name of the Samruddha Jeevan Foods India Ltd promoter Mahesh Kisan Motewar, his two wives, other family members and business associates.
The attached properties in the form of of land, residences, shops and offices, spread across eight states including Maharashtra.
The financial probe agency said that its investigation established that the funds collected from the unsuspecting investors were laundered for the expansion of the promoters' other businesses and for personal gains.