Bank loan fraud: ED attaches Rs 122 cr assets of Pune businessmen, others
Assets worth more than Rs 122 crore of various accused, including that of a former chairman of Pune-based Seva Vikas co-operative Bank and promoter of an education group, have been attached as part of money laundering investigation linked to an alleged bank loan fraud, the Enforcement Directorate (ED) said Friday.
A provisional order for attaching 47 immovable properties worth Rs 121.81 crore located in Pune in Maharashtra and movable assets of Rs 54.25 lakh (belonging to Devi Concrete Products) has been issued under the criminal sections of the Prevention of Money Laundering Act (PMLA).
The properties belong to Amar Mulchandani, former chairman of Seva Vikas co-operative Bank, Vivek Aranha, promoter of Pune-based Rosary Education group, Sagar Suryawanshi, Khemchand Bhojwani and their family members and linked entities.
The case stems from a Pune Police FIR against the Rosary Education group, its promoters and others with regard to an alleged loan fraud, the ED said in a ...