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Enforcement Directorate has attached assets worth 200 crore rupees of Basil International Limited

Newdelhi:18/7/19:The Enforcement Directorate, ED, has attached assets worth 200 crore rupees in a Ponzi Scheme case under the provisions of Prevention of Money Laundering Act.

The attached assets include lands, flats, factories, hotels and shops registered in the name of sixteen different companies of Basil International Limited in Assam, West Bengal, Odisha, Jharkhand, Uttar Pradesh, Tripura and Maharashtra.

In a statement, the ED said, it had initiated investigation on the basis of the Charge-sheet filed by CBI against the company for cheating common public by propagating and selling illegal schemes by promising huge and unsustainable returns.

The ED said, the investigation also revealed that the funds collected through the schemes were illegally diverted by creating a web of shell companies. More than 60 private and public
limited shell companies have been identified so far.

Apart from the immovable properties, balance amount of one crore 77 lakh lying in 15 accounts maintained in the name of Basil International Limited and other associate companies have also been attached.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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