<p>The Enforcement Directorate has attached assets worth over Rs 14 crore of a media group in connection with a money laundering case against it linked to an alleged Rs 2,600 crore bank fraud case, the probe agency said on Friday.</p>.<p>The central probe agency said it has issued a provisional order under the Prevention of Money Laundering Act (PMLA) against Pixion group of companies.</p>.<p>"The attached assets are in the form of mutual funds, shares of a listed company in the name of Ada family trust and Dhruv family private trust to the tune of Rs 5.95 crore and Rs 6.26 crore respectively, mutual funds in the name of various group concerns worth Rs 1.67 crore, PPF account balance of Rs 45 lakh and bank balance of Rs 14.62 lakh," the ED said in a statement.</p>.<p>The total value of the attachment is Rs 14.49 crore.</p>.<p>The case pertains to alleged fraud and criminal conspiracy that caused the loss of Rs 2,600 crore to public sector banks and wrongful gain to Pixion Media Pvt Ltd, Pearl Media Pvt Ltd, Mahuaa Media Pvt Ltd, Pixion Vision Pvt Ltd, Pearl Studio Pvt Ltd, Pearl Vision Pvt Ltd, Century Communication Ltd, their directors P K Tewari, Anand Tewari, Abhishek Tewari and others, it said.</p>.<p>The ED slapped criminal charges under the PMLA in the case after studying an FIR filed by the CBI against the accused.</p>.<p>The probe found that bank loans were acquired fraudulently on the basis of fictitious documents, the ED alleged.</p>.<p>"The disbursed loan amounts were diverted through suppliers' bank accounts like Avitel Electronics, Amarjyoti Vayapaar and Via Earths Films and further routed back by these persons to their own group companies or personal accounts," the probe agency said.</p>.<p>"These funds were diverted in the account of group companies to create different layers of laundering and finally used the said proceeds of crime for the purchase of properties, gold, jewellery, investment in stock market, investment in mutual funds, cash withdrawal through shell companies, diversion and transfer of funds to themselves and family members, purchase of vehicles, transfer to trusts, outward foreign remittances among others," it said.</p>.<p>The agency said several accounts were opened in various banks in the name of these companies, individuals and family trusts by the accused.</p>
<p>The Enforcement Directorate has attached assets worth over Rs 14 crore of a media group in connection with a money laundering case against it linked to an alleged Rs 2,600 crore bank fraud case, the probe agency said on Friday.</p>.<p>The central probe agency said it has issued a provisional order under the Prevention of Money Laundering Act (PMLA) against Pixion group of companies.</p>.<p>"The attached assets are in the form of mutual funds, shares of a listed company in the name of Ada family trust and Dhruv family private trust to the tune of Rs 5.95 crore and Rs 6.26 crore respectively, mutual funds in the name of various group concerns worth Rs 1.67 crore, PPF account balance of Rs 45 lakh and bank balance of Rs 14.62 lakh," the ED said in a statement.</p>.<p>The total value of the attachment is Rs 14.49 crore.</p>.<p>The case pertains to alleged fraud and criminal conspiracy that caused the loss of Rs 2,600 crore to public sector banks and wrongful gain to Pixion Media Pvt Ltd, Pearl Media Pvt Ltd, Mahuaa Media Pvt Ltd, Pixion Vision Pvt Ltd, Pearl Studio Pvt Ltd, Pearl Vision Pvt Ltd, Century Communication Ltd, their directors P K Tewari, Anand Tewari, Abhishek Tewari and others, it said.</p>.<p>The ED slapped criminal charges under the PMLA in the case after studying an FIR filed by the CBI against the accused.</p>.<p>The probe found that bank loans were acquired fraudulently on the basis of fictitious documents, the ED alleged.</p>.<p>"The disbursed loan amounts were diverted through suppliers' bank accounts like Avitel Electronics, Amarjyoti Vayapaar and Via Earths Films and further routed back by these persons to their own group companies or personal accounts," the probe agency said.</p>.<p>"These funds were diverted in the account of group companies to create different layers of laundering and finally used the said proceeds of crime for the purchase of properties, gold, jewellery, investment in stock market, investment in mutual funds, cash withdrawal through shell companies, diversion and transfer of funds to themselves and family members, purchase of vehicles, transfer to trusts, outward foreign remittances among others," it said.</p>.<p>The agency said several accounts were opened in various banks in the name of these companies, individuals and family trusts by the accused.</p>