ED attaches assets worth Rs 127 cr of Pixion Media Pvt Ltd

Enforcement Directorate, ED has attached assets worth over 127 crore rupees belonging to Pixion Media Private Limited and its group companies in banks fraud case. The attached assets consist of two commercial plots, nine commercial floors of Group companies situated in Mumbai, Chennai, Noida and Kolkata. The agency has initiated investigation under Prevention of Money Laundering Act on the basis of FIRs and chargesheets filed by CBI.

The investigation revealed that the accused persons had fraudulently availed loans to the tune of two thousand 600 crore rupees from various banks and diverted the amount through bank accounts of various companies and entities controlled by them.

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