Hyderabad, Nov 21: In April last year, Amway India's assets valued at over Rs 757 crore were seized under anti-money laundering regulations, as per an announcement by the ED.
The Enforcement Directorate has initiated legal proceedings against Amway India, a direct-selling firm, by submitting a Prosecution Complaint under the Prevention of Money Laundering Act, 2002 (PMLA) to the Metropolitan Sessions Judge cum Special Court in Hyderabad.
Additionally, the ED has confirmed that the Metropolitan Sessions Judge cum Special Court (PMLA) in Hyderabad has acknowledged the Prosecution Complaint on November 20, marking the initiation of legal action.
The specifics of the alleged money laundering activities by Amway India will likely be revealed during the course of the legal proceedings.
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