ED links over Rs 1 crore movable assets of ED under PMLA in bank fraud case

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ED has added more than Rs 1 crore of movable and immovable assets to Messrs. ERA Infra Engineering Ltd., EIEL under the Money Laundering Prevention Act in a bank fraud case. The attached property is in the bank account of EIEL held in Kiss Bank.

The ED launched an investigation under the PMLA on the basis of FIRs from the Central Bureau of Investigation, CBI, New Delhi and FIRs against IIC, CMD Hemsingh Bharana, other unidentified government employees of the bank and unidentified individuals under the Prevention of Corruption Act. .

The IIEL and other accused have been booked for criminal conspiracy, fraud, use of forged documents and use of forged documents and criminal Investigate for a loan of Rs 50 crore.

An investigation under the PMLA found that the sanctioned loan amount was disbursed and used in such a way as to deny the sanctioned purpose.

72.722 crore under PMLA and Rs. Assets worth Rs 33,711 crore were added temporarily. Now with this 1.2.22 crore attachment, the total value of the attached property so far is Rs 58.58.65 crore.

Reference : Air News

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