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ED, Lucknow has provisionally attached 04 immovable assets in the form of 01 industrial plot and 03 residential flats, worth Rs 6.37 Crore belonging to M/s Vinay Wire and Poly Products Pvt Ltd and its Directors, situated at Ahmedabad (Gujrat) and Kanpur (Uttar Pradesh) in the matter related to diversion of loan funds by M/s Vinay Wire and Poly Products Pvt Ltd under the provisions of PMLA, 2002

News Anti-Bribery & Corruption Sanctions & Fines
Date: 3rd Dec, 2024 Source: Enforcement Directorate (ED) Country: India Original Source

Brief

"On 03/12/2024, the Enforcement Directorate (ED) issued an update regarding ED, Lucknow has provisionally attached 04 immovable assets in the form of 01 industrial plot and 03 residential flats, worth Rs 6.37 Crore belonging to M/s Vinay Wire and Poly Products Pvt Ltd and its Directors, situated at Ahmedabad (Gujrat) and Kanpur (Uttar Pradesh) in the matter related to diversion of loan funds by M/s Vinay Wire and Poly Products Pvt Ltd under the provisions of PMLA, 2002. This action was taken following an investigation that revealed misappropriation of loan funds through fake/forged documents and unauthorized account openings."

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Enforcement Directorate (ED)

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