<p>Government today said the Enforcement Directorate has attached properties worth Rs 114 crore of a Mumbai-based businessman for his alleged involvement in money laundering.<br /><br />"Yes, Ms City Realcom and other companies of the City group promoted by Sayed Mohd Masood were found involved in money laundering activities.<br /><br />"As a result of investigations conducted by Directorate of Enforcement, properties worth Rs 114.83 crore being proceeds of crime involved in money laundering, belonging to Sayed </p>.<p>Mohd Masood, his companies and family members have been identified and attached under the provisions of the Prevention of Money Laundering Act, 2002," Minister of State for Finance S S Palanimanickam said in a written reply in Rajya Sabha.<br /><br />The businessman and his companies are based in Mumbai. </p>
<p>Government today said the Enforcement Directorate has attached properties worth Rs 114 crore of a Mumbai-based businessman for his alleged involvement in money laundering.<br /><br />"Yes, Ms City Realcom and other companies of the City group promoted by Sayed Mohd Masood were found involved in money laundering activities.<br /><br />"As a result of investigations conducted by Directorate of Enforcement, properties worth Rs 114.83 crore being proceeds of crime involved in money laundering, belonging to Sayed </p>.<p>Mohd Masood, his companies and family members have been identified and attached under the provisions of the Prevention of Money Laundering Act, 2002," Minister of State for Finance S S Palanimanickam said in a written reply in Rajya Sabha.<br /><br />The businessman and his companies are based in Mumbai. </p>