Restoration of Assets: A Landmark Ruling in India’s Fight Against Money Laundering

Read Anti-money laundering Sanctions & Fines

Date: 19th Feb, 2025 Source: In-House Country: India

Brief

"On February 19, 2023, the Enforcement Directorate (ED) issued an update regarding ED, Chennai Zonal Office has successfully facilitated the restoration of immovable properties worth Rs. 235 Crore to Indian Bank in connection with a money laundering case involving M/s Saravana Stores (Gold Palace) and its partners. This move reflects the ED's commitment to facilitating rightful restitution of assets and supporting affected financial institutions."

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Restoration of Assets: A Landmark Ruling in India’s Fight Against Money Laundering

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