The Directorate of Enforcement (ED), Delhi Zonal Office, has successfully restituted property worth Rs. 274.60 crore to victims and legitimate claimants. The ED initiated this investigation following an FIR filed by the CBI (BS&FC), Mumbai, based on a complaint from the Bank of Baroda, Mumbai. The complaint accused M/s PSL Limited and its directors of criminal conspiracy, cheating, and misconduct. The alleged offences under Sections 420 and 120B of the IPC are classified as scheduled offences under the Prevention of Money Laundering Act (PMLA) The ED on Feb 27 submitted a no-objection application before the Delhi High Court for the release of the fixed deposits and their accrued interest to the liquidator. This would enable the further restitution of these assets to the rightful victims and claimants of the money-laundering offence. The Delhi High court passed an order to restitute the fixed. deposits amounting to Rs.274.60. crore, along with the accrued interest, to the. liquidator for distribution to the legitimate claimants and victims of the offence.
