In a major boost for the banking sector, the Enforcement Directorate has handed back seized assets totaling Rs 180.87 crore in the Zoom Developers money laundering case. The agency’s action aims to mitigate the impact of the multi-crore scam where promoters allegedly duped banks using forged documents and inflated project valuations. These properties, now returned to the banks, will be liquidated to recover outstanding dues and strengthen the balance sheets of the involved financial institutions. The ED stated that this is part of their broader mission to return the proceeds of crime to legitimate owners.
