ED attaches assets worth over ₹1,000 crore in DMCSL fraud case

The Enforcement Directorate has provisionally attached immovable assets worth over one thousand crore rupees in the case of Dnyanradha Multistate Co-operative Credit Society Limited (DMCSL) and others. The assets include immovable properties in the form of land and buildings situated in the Mumbai, Aurangabad, Beed, and Jalna districts of Maharashtra. 

The ED initiated the investigation based on



FIRs registered by various police stations in Maharashtra concerning alleged fraud committed by the company. The agency said that the company floated various deposit schemes and claimed to provide interest that varied from 12 to 14 per cent. During the investigation, it was found that the accused lured more than four lakh gullible investors by promising higher returns.