ED attaches properties in bank fraud case

A twitter image of Enforcement Directorate.

A twitter image of Enforcement Directorate.

The Enforcement Directorate (ED) has attached properties worth ₹82.83 crore, held in the name of Chennai-based SLO Industries Limited and others, in an alleged bank fraud case involving ₹201.88 crore.

They include 74 immovable properties and eight vehicles, which are in the name of the company and the accused — Anil Kumar Ojha, Sunitha Ojha, Arun Kumar Sharma, Mamta Sharma, Ashok Kumar Sharma, SLO Steels Limited, Mahalakshmi Steels and SLO Buldcon Private Limited — said the agency.

The properties are located in Tiruvottiyur, Kilpauk, Kodambakkam, Gummidipoondi, Sholinganallur, Periyamet, Pammal and Kanchipuram in Tamil Nadu; Krishna in Andhra Pradesh; and Churu, Bikaner and Jaipur in Rajasthan.

The ED probe is based on an FIR registered by the Central Bureau of Investigation against Mr. Anil Kumar Ojha, a director of SLO Industries Limited, and other directors of the group, for allegedly cheating the Corporation Bank of ₹201.88 crore.

The agency found that the company availed itself of letters of credit facility from the bank allegedly by using forged documents. Further investigation under the Prevention of Money Laundering Act is under way.

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Printable version | Aug 11, 2022 9:29:25 pm |