https://www.taxtmi.com/news?id=54134 Enforcement action under the Prevention of Money Laundering framework led to seizure of luxury vehicles, cash, jewellery and freezing of lockers from an Odisha businessman and his companies in a probe alleging diversion of consortium bank loans obtained by a separate borrower through forged documentation and fictitious sales. The investigation alleges proceeds were routed into the Odisha entities and that the managing director knowingly assisted in their utilisation; authorities previously attached assets and restituted properties to victim banks as part of asset tracing and recovery. en-us Sun, 31 Aug 2025 11:46:03 +0530 Sun, 31 Aug 2025 11:46:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=54134 Enforcement action under the Prevention of Money Laundering framework led to seizure of luxury vehicles, cash, jewellery and freezing of lockers from an Odisha businessman and his companies in a probe alleging diversion of consortium bank loans obtained by a separate borrower through forged documentation and fictitious sales. The investigation alleges proceeds were routed into the Odisha entities and that the managing director knowingly assisted in their utilisation; authorities previously attached assets and restituted properties to victim banks as part of asset tracing and recovery. News - Sun, 31 Aug 2025 11:46:03 +0530 https://www.taxtmi.com/news?id=54134