MUMBAI:
Properties worth over ₹125 crore have been handed over to the liquidator as part of the process, ED said.
The decision by a special Prevention of Money Laundering Act (PMLA) court followed an application from the victim banks—PNB and ICICI Bank—for initiating the restitution process under PMLA Act.
The application, backed by ED, was pending for decision since November 2022 and such delay in the release/restoration of properties was delaying the recovery of public funds, the applicants said.
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