The Enforcement Directorate (ED) has attached assets worth ₹14.49 crore belonging to the directors of the Pixion group of companies and others in a bank fraud case.
The attached assets are part of the alleged proceeds of crime acquired by causing a wrongful loss of ₹2,600 crore to public sector banks.
The beneficiaries were Pixion Media Private Limited, Pearl Media Private Limited, Mahuaa Media Private Limited, Pixion Vision Private Limited, Pearl Studio Private Limited, Pearl Vision Private Limited and Century Communication Limited; their directors P.K. Tewari, Anand Tewari and Abhishek Tewari; and others, the ED said.
The probe is based on seven charge sheets filed by the Central Bureau of Investigation (CBI) against the companies, directors and others.
The agency alleged that bank loans were taken on the basis of fictitious documents. The disbursed amounts were diverted through the bank accounts of suppliers and routed back to the group companies or personal accounts. The laundered funds were used to buy property and jewellery and were invested in the stock market and mutual funds.
The accused persons opened several accounts in various banks in the names of these companies, individuals and family trusts for diverting the proceeds of crime, the ED said.
