The ED took major action against the Pune businessman

The Directorate of Enforcement (ED) has on Monday said it has acquired 4 crore worth of land from Pune-based Pune businessman Avinash Bhosale as part of its money transfer probe. “The attached property is the corporate office of ABIL (Avinash Bhosale Infrastructure Limited) and its conglomerates.” The agency said in a statement. According to the statement, “Avinash Bhosle is the pioneer of ABIL Group of Companies.” The land is located at Ganeshkhind Road, Range Hill Corner, Pune. Two, Yashwant Ghad is located in the Urban Cooperative Housing Society. The agency has issued a temporary order to seize land under the Prevention of Money Laundering Act (PMLA).

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The ED’s money laundering case against Bhosale is based on the city police’s FIR, alleging that Ranjit had transferred the property to ARA Properties in violation of the original allotment clause. According to the statement, “At the time when the land was allotted by the government in 1951, under the preliminary clause, the land could only be transferred to the government or its subordinates.” In June, more than 40 crores worth of assets were seized

In the event, the agency had previously raided various locations and then seized some of the documents, the statement said. The ED claims that the documents found during the search confirm the allegations in the FIR. The ED has already questioned Bhosale in this case. In June, the ED attached assets worth over Rs 40 crore, including shares in three luxury hotels of Bhosale and his family members, in a separate investigation into allegations of violations of the Foreign Exchange Act.

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