The Enforcement Directorate (ED) provisionally attached four immovable properties worth Rs 47.1 crore belonging to Rosary Education Group and its partners Vinay Aranha and Vivek Aranha under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The present market value of the attached properties is estimated to be around Rs 98.20 crore. The attached properties include land and school buildings owned in the name of Vinay Aranha and family.
The ED initiated a probe on the basis of an FIR registered by the Pune Police on the complaint of Shivaji Vithal Kale of Cosmos Bank accusing Vinay Aranha and Vivek Anthony Aranha of obtaining a loan of Rs 20.44 crore by submitting fake property documents.
