New Delhi, Feb 4 (.) The Enforcement Directorate (ED), Mumbai Zonal Office, today said it has attached immovable properties—including flats and plots across Maharashtra.worth Rs 69.84 crore in a money laundering case related to an alleged bank fraud by Parekh Aluminex Limited (PAL) and others.
The attached assets are held in the name of Kamlesh Kanungo, his family members, and entities beneficially owned and controlled by him.
The ED initiated its investigation under the Prevention of Money Laundering Act (PMLA) based on an FIR (first information report) registered by the CBI’s Economic Offences Branch, Mumbai, against Parekh Aluminex Limited, its late promoter Amitabh Arun Parekh, Kamlesh Kanungo, and others for offences under various sections of the IPC and the Prevention of Corruption Act.
The ED’s investigation revealed that PAL fraudulently obtained loans from a consortium of banks by submitting inflated stock and debtor statements. The loan accounts were later declared non-performing assets (NPA), causing a loss of approximately Rs 2,296 crore.
The probe further disclosed that Kamlesh Kanungo was the major beneficiary of the proceeds of crime, having received and enjoyed around Rs 1,270 crore. forming part of the total proceeds of crime of Rs 2,296 crore, causing wrongful loss to a consortium of banks led by Indian Overseas Bank and 16 other banks.
Earlier, the ED had attached assets worth Rs 205 crore in this case. Further investigation revealed that out of the Rs 1,270 crore, Kanungo received proceeds of crime amounting to Rs 355 crore by taking over five entities of Kirti Kedia. In this regard, an attachment order dated June 20, 2025, was issued to attach immovable properties in the name of Kanungo and his entities worth approximately Rs 218 crore.
During investigation, additional immovable properties in the name of Kanungo, his wife Dimple Kanungo, and entities beneficially owned and controlled by Kamlesh Kanungo were identified. The present attachment order dated February 2, 2026, has been issued to attach these immovable properties worth Rs 69.84 crore.
To date, the ED has attached total assets of Kamlesh Kanungo, his wife, and related entities worth approximately Rs 493 crore towards the recovery of proceeds of crime in his possession, which form part of the total proceeds of crime amounting to Rs 2,296 crore.
Further investigation in the matter is ongoing.
. ATK .