The Directorate of Enforcement (ED), Chennai Zonal Office, has recovered immovable properties of Nathella Sampath Jewellery Private Limited (NSJPL) which were pledged to the consortium of banks led by State Bank of India (SBI).
In a press release, the ED has restituted 27 immovable properties located in Chennai and valued at ₹163.85 crore under the provisions of Prevention of Money Laundering Act (PMLA), 2002 to SBI. The immovable properties were recovered as part of a ₹380-crore bank fraud case involving NSJPL and others. The restitution was made as per the orders of the Principal Sessions/Special Court, Chennai, under Section 8(8) of PMLA.
