The Enforcement Directorate (ED) has provisionally attached movable and immovable properties worth Rs 12.11 crore belonging to three individualsāNirmal Kotecha, Pavan Kuchana, and Kishore Tapadiaāin connection with the Taksheel Solutions Limited Initial Public Offer (IPO) scam. The ED initiated the investigation based on a complaint by the Securities and Exchange Board of India (SEBI) against Taksheel Solutions Limited and others for irregularities in its IPO. The accused are alleged to have inflated the company’s revenue, diverted and siphoned off IPO proceeds, and engaged in circular transactions, resulting in the inflation of profitability. The attached properties are under the Prevention of Money Laundering Act (PMLA).
ED Attaches Properties Worth Rs 12.11 Crore in Taksheel Solutions IPO Scam
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