ED attaches properties worth Rs 40 cr of Geodesic Limited software company that owned ‘Chandamama’
ED attaches properties worth Rs 40 cr of Geodesic Limited software company that owned
‘Chandamama’
In their drive against money laundering and illegal properties, ED has attached properties worth Rs 40 cr of
Geodesic Limited a software company that owned children’s magazine ‘Chandamama’.
With this fresh attachments, the total attachment in the case stands approximately Rs 57.14 crore.
According to the revelation the anti-money laundering agency’s investigation Geodesic Limited raised FCCB to the tune of 125 million USD in 2008 for the purpose of overseas acquisition and investment in joint venture/wholly owned subsidiary of Geodesic Ltd.
Provisionally, the Enforcement Directorate (ED) has attached properties worth Rs 40.62 crore under the provisions of Prevention of Money Laundering Act, 2002 in the case against software company Geodesic Limited (GL), which also owned children’s popular magazine ‘Chandamama’.
The attached properties are in the form of 26 residential flats and shops in the name of various companies and persons namely Savi Commodity and Capital Services Pvt Ltd, J & J Network Consultancy (P) Limited, Dinesh Jajodia (a Mumbai-based chartered accountant and tax consultant), and others situated in Maharashtra and West Bengal.
News Edit K.V.Raman
