ED: Immovable properties attached worth Rs 138 Cr

By Accommodation Times Bureau


The ED has attached immovable properties on Thursday under the Prevention of Money Laundering Act (PMLA) of Kanishk Gold Pvt Ltd and its MD Bhoopesh Kumar Jain, worth Rs 138 crore.

The 14 immovable properties worth Rs 138 crore belonging to Company and its MD, ED said in the statement.

Under PMLA the ED on April 24 attached the properties of belonging to Kanishk Gold Pvt Ltd worth Rs 48 crore.

On April 24 attachment order was issued, to attach properties over Rs 143 crore. These properties were recognized as the crime committed by MD and others, according to ED.

The company is alleged to have involved in cheating, criminal conspiracy, forgery offences against SBI.

The State Bank of India has lodged an FIR and complaint with CBI against the company.

The ED said the loss caused to the bank due is a tune of Rs 824 crore, outstanding as on December 31, 2017.

State Bank of India (SBI) is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation headquartered in Mumbai, Maharashtra. The company is ranked 217th on the Fortune Global 500 list of the world’s biggest corporations as of 2017. It is the largest bank in India with a 23% market share in assets, besides a share of one-fourth of the total loan and deposits market

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