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The Hindu
The Hindu
National
The Hindu Bureau

ED attaches assets worth ₹24.41 crore of absconding Dubai-based VIPS Group owner

ED Mỹ Dubai Mumbai

The Enforcement Directorate (ED) has provisionally attached assets worth more than ₹24 crore used by businessman Vinod Khute, owner of VIPS Group of Companies and M/s Global Affiliate Business company.

The documents of the attached assets are spread across 58 bank accounts amounting to ₹21.27 crore along with deposits of ₹3.14 crore worth a total of ₹24.41 crore, according to ED authorities of Mumbai zonal office in a release issued on Friday.

The Central probe agency has issued the provisional attachment order under provisions of the Prevention of Money Laundering Act (PMLA) by attaching the movable assets of various individuals, entities and firms that are used by Mr. Khute for the purpose of layering of the proceeds of the crime.

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