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The central probe agency considers these funds to be the “proceeds of crime” .
The agency is investigating the case as it suspects that “by floating ponzi schemes offering astronomically high returns, Ms City Limousines (India) Limited and Ms City Realcom Limited, its Chairman and other directors of the companies have cheated thousands of investors across the country of funds to the tune of hundreds of crores.”
An attachment, under PMLA, is aimed to deprive an accussed from taking benefits of their ill-gotten assets and such an order can be challenged by the accused at the adjudicating authority of the said Act within a period of 180 days.
(Sourced from agencies, Feature image courtesy:oneindia.com)
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 has attached over Rs 91 crore kept in a Singapore bank in connection with a money laundering probe){kind=link}