Modi governement Issues Order To Seize Rs 18,866 cr Properties Under PMLA

NEW DELHI: Today Indian government said it has issued provisional notices to attach properties worth Rs 18,866 crore for offences under the Money Laundering law.
It has also taken a host of initiatives, including effective enforcement of law, to curb the menace of money laundering in the country, Minister of State for Finance Santosh Kumar Gangwar said in the Lok Sabha.
“As of October 31, 2016, 658 provisional attachment orders have been issued by attaching properties worth Rs 18,866 crore. Further, 283 prosecution complaints have been filed for the offence of money laundering (under Prevention of Money Laundering Act),” he said.
Gangwar said the government recently demonetised 500 and 1,000 rupee notes “in a historical move that will add record strength in fight against corruption, black money, money laundering, terrorism and financing of terrorists as well as counterfeit notes”.
He added also other initiatives includes enactment of the Benami Transaction Act, amendments to FEMA and foreign black money law.