The Enforcement Directorate (ED) on Friday got an approval from a Prevention of Money Laundering Court Act (PMLA) court here to confiscate Rs 89.56 crore bank balance of city-based firm Seamless Outsourcing LLP in connection with Speak Asia Online Pvt Ltd case.
M.S. Azmi, the PMLA court judge, gave the nod in view of application filed by the ED seeking approval to confiscate the bank balance of the firm which was earlier attached by the agency. The ED had attached the Rs 89.56 crore in current account of Seamless Outsourcing LLP in March 2015.
The ED said this was the first case where it would be able to confiscate the liquid cash of such magnitude to the Central government.
The agency had made its appeal to confiscate the bank balance of Seamless Outsourching LLP as its partner Mansoor Nizam Patel failed to appear before the PMLA special court in spite of non-bailable warrant issued against them.
In September 2011, the ED registered a case based on FIR lodged by police in the case against Speak Asia Online Pvt Ltd, Singapore and its directors, other related persons.
The ED investigation has revealed that Speak Asia Online in connivance with its foreign associate Haren Venture Pvt Ltd (HVPL), Singapore and its three representatives in India -- Tulsiyat Tek Pvt Ltd, Mumbai; Kritanj Management and Allied Services, Mumbai; and Seamless Outsourcing LLP -- floated a web based online money circulation scheme through its website www.speakasiaonline.com.
"Money collected from gullible investors in the guise of subscription fee for online survey was sent out to Singapore in the bank account of HPVL," said the ED.
After investigation, the ED had filed the prosecution complaint against Seamless Outsourcing and seven others.
--IANS
rak/prs
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