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Bangalore, 6 October (IANS) In a significant step to restore the income of crime to the right contenders, the Bangalore Zonal Office (ED) of the Enforcement Directorate is going to restore valuable properties for the crime of money laundering to the victims, which is right for money laundering and other people.
The ED started an investigation on the basis of a complaint by the Revenue Inspector at the Tehsildar office in Yelhanka, Bangalore and on September 7, 2018 against an FIR date, against the International and its affiliated group registered by Wilson Garden Police Station, Awards Chits and Money Circulation Schemes (Banning) Act, 1978, IPC 1860, and various classes of gute funds.
The FIR is currently under investigation by the Financial Intelligence Unit of the Criminal Investigation Department in Bengaluru.
The ED investigation has revealed that the partnership firm in the name of the Chit Fund Scheme was obtained in large quantities in INSAZ International and the funds were withdrawn for the purchase of individual expenses from the partners of the firm along with many immovable properties.
During the investigation, the ED issued an provisional attachment order, which attached several real estate related to the accused partnership firm and later filed a prosecution complaint before the Special Court.
Keeping in mind the intention of PMLA, to restore/restore/restore the income of crime to Bonafide/legitimate contenders and to the victims of the crime of money, the ED did not object to the Siddhanta Civil and Sessions Judge of the city, which is included in response to the application under Section 8 (8) of PMLA, 2002, in the case, laundering in the case.
Based on the presentation of the ED, the Siddhant City Civil and Sessions Judge was pleased to pass an order to restore immovable properties attached to the offenders of Bonafide/legitimate claimants and money laundering.
The right contenders and the victim’s restoration of assets to the ED is an important step in the ongoing efforts of the ED to ensure that the income of the crime is returned to the affected people.
The ED’s statement stated that the ED maintains its commitment to combat financial offenses and ensure justice for victims of such crimes.
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