New Delhi: The Enforcement Directorate (ED) has provisionally attached properties worth ₹79.93 crore belonging to M/s Malbros International Pvt Ltd as part of an ongoing money laundering investigation under the provisions of the Prevention of Money Laundering Act (PMLA), officials said on Monday.
The attachment order was issued after the agency found that the assets were allegedly acquired through proceeds of crime generated from illegal activities. The attached properties include land parcels, buildings and other immovable assets linked to the company and its associates.
Probe Linked to Financial Irregularities
According to sources, the ED initiated the probe after taking cognisance of scheduled offences registered by other investigative agencies. Preliminary findings indicated large-scale financial irregularities and suspected diversion of funds, which prompted a detailed examination of the company’s financial transactions.
Investigators said Malbros International Pvt Ltd allegedly routed funds through multiple accounts and shell entities to conceal the illicit origin of the money. The agency is examining the money trail to identify beneficiaries and the role of key individuals involved in the case.
Further Action Likely
Officials said the attached assets have been secured to prevent their disposal or transfer during the course of the investigation. The ED is expected to file a prosecution complaint before the special PMLA court in due course, seeking confirmation of the attachment.
The investigation is ongoing, and further attachments or arrests may follow depending on the outcome of the probe, the sources added.