ED Attaches Assets Worth Rs 112.90 Crore in LEEL Electricals Case, Including Property in US

By Samira Vishwas On Jul 8, 2026

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The Enforcement Directorate (ED) on Tuesday said it has provisionally attached 22 movable and immovable properties worth Rs 112.90 crore in connection with an alleged money laundering case involving LEEL Electricals Limited (formerly Lloyd Electric and Engineering Limited), its main promoter Bharat Raj Punj, and other accused.

According to the central agency, the attachment has been carried out under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, as part of its ongoing investigation into the alleged diversion and laundering of funds linked to the company.

The ED said the attached assets include a residential property in Houston, Texas (United States), besides land parcels, industrial plots and residential properties spread across Delhi, Uttarakhand, Gujarat, Madhya Pradesh, Telangana, Goa, Maharashtra and Tamil Nadu. The attachment also covers bank balances, fixed deposits and mutual fund investments allegedly linked to the accused.

The agency stated that the action follows its investigation into suspected financial irregularities and the alleged generation and layering of proceeds of crime. While detailing the latest attachment, the ED did not disclose the specific value of individual properties but said the combined worth of all attached assets stands at Rs 112.90 crore.

The money laundering investigation stems from a scheduled offence registered by the concerned investigating agency. Under the PMLA, the ED is empowered to provisionally attach assets believed to have been acquired through proceeds of crime, subject to confirmation by the Adjudicating Authority.

Officials said the investigation is focused on tracing assets allegedly acquired through diverted funds and identifying the financial trail connected to the accused persons and associated entities. The agency has been examining financial transactions, property records and investment details as part of the probe.

A provisional attachment under the PMLA does not amount to a determination of guilt. The attachment remains subject to adjudication under the provisions of the law, while the investigation into the alleged money laundering case continues.

The ED has not announced any arrests in connection with the latest attachment, and further investigation is underway to identify additional assets, if any, linked to the alleged proceeds of crime.