ED Seizes Rs 300 Cr Assets, Rs 78 Lakh Cash in Major Money Laundering Crackdown

The Enforcement Directorate (ED) attached properties worth Rs 300.11 crore of M3M India Infrastructures under the PMLA. Additionally, the ED seized Rs 78.15 lakh from Malbros International in a separate case. Both investigations are related to environmental crime and money laundering activities.

The Enforcement Directorate (ED) has seized immovable properties covering 88.29 acres and valued at Rs 300.11 crore linked to M3M India Infrastructures Private Ltd, in accordance with the Prevention of Money Laundering Act (PMLA), 2002. The properties, situated in Basharia village in Gurugram, Haryana, have been impounded under the said act.

Separately, the ED has confiscated unaccounted cash totaling Rs 78.15 lakh during a series of raids across seven locations in Punjab, Delhi, and Madhya Pradesh. These raids, executed on July 16, pertained to a money laundering investigation involving liquor company Malbros International Pvt Ltd and its former Director Gautam Malhotra. The searches yielded digital devices and crucial documents, enhancing the ongoing probe.

The ED’s investigations stemmed from a criminal complaint filed by the Punjab Pollution Control Board against Malbros International Pvt Ltd at the Court of Chief Judicial Magistrate, Ferozepur. The company stands accused of breaching the Water (Prevention and Control of Pollution) Act, 1974, by illegally dumping industrial effluents into bore-wells, contaminating soil and groundwater. This environmental crime has not only posed significant health risks but also resulted in cattle deaths in the vicinity. The illicit proceeds from this environmental violation have reportedly been funneled into the company’s business activities, with a detailed financial trail investigation currently underway.