Prevention of Money Laundering Act
The ED has charged Koneru Rajendra Prasad, ex-director of Emaar Hills Townships Private Ltd (EHTPL), N Sunil Reddy, ex-director of Southend Project and Foundations and N Sunil Reddy, ex-director of Southend Project and Foundations based on the CBI charge sheet and attached properties worth 96.01 crore and all bank accounts. Land Mafia has taken a [...] Continue Reading »
Most of the Real estate assets, farm lands, flats and many other such high-value properties worth crores of rupees were procured by the accused by “laundering” genuine investor funds of the scam-hit National Spot Exchange Limited (NSEL). A charge-sheet filed by the Enforcement Directorate (ED) into the alleged multi-crore financial irregularities of NSEL found that [...] Continue Reading »
All real estate transactions will have to be reported to the country’s anti- moneylaundering agency once the government amends a key law that seeks to curb black-money transactions. The government plans to amend the Prevention of Money Laundering Act , which will require property registrars to file data of transactions recorded by them with the [...] Continue Reading »
