ED attaches assets worth ₹66.49 crore in bank fraud case

The case pertains to Surya Vinayak Industries and its group companies

The Enforcement Directorate has attached assets worth ₹66.49 crore of various persons in a ₹2,206-crore bank fraud case involving Surya Vinayak Industries Limited and its group companies.

The properties include eight residential plots, one farmhouse, six residential flats, about 22 acres of agriculture land and four fixed deposits, besides preference and equity shares of limited companies.

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The ED probe is based on an FIR registered, and chargesheet filed by the Central Bureau of Investigation against the company and others. The accused persons, including Surya Vinayak Industries directors, Sanjay Jain and Rajiv Jain, had borrowed ₹2,240 crore from various banks on forged records and account books, said the agency.

It is alleged that bogus purchase invoices were issued and accommodation entries made allegedly to divert funds.

The accused diverted the loan amounts through bank accounts of various companies and entities controlled by them to Falcon Jersey Private Limited, for investments in immovable/movable assets in Delhi, Noida, Gurugram, Faridabad, Sonepat, Bhiwadi and Kolkata in the name of various persons, according to the ED.

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Printable version | Mar 30, 2020 1:42:52 PM |

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