The Enforcement Directorate (ED) has attached assets worth Rs 121.80 crore in the money laundering case against Neomax Properties Pvt Ltd, a significant move in the ongoing investigation into alleged financial malpractices in the real estate sector.
Real EstateMoney LaunderingEdNeomax PropertiesAsset SeizureReal Estate NewsApr 18, 2025
The Enforcement Directorate (ED) is a law enforcement agency of the Government of India, responsible for enforcing economic laws and fighting economic crime. It operates under the Ministry of Finance.
Neomax Properties Pvt Ltd is accused of engaging in large-scale financial manipulations, including siphoning off funds and laundering money through various illegal means.
The assets attached by the ED have a market value of Rs 600 crore and are estimated to be worth Rs 121.80 crore in the current seizure.
The attached assets include both movable and immovable properties such as luxury residential properties, commercial complexes, and financial assets.
This action by the ED is significant as it marks a strong commitment to combat financial crimes and money laundering in the real estate sector, setting a precedent for future cases.
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