The Enforcement Directorate seized 86 land parcels linked to a Rs 7,377 crore bank loan fraud in India.

The Enforcement Directorate (ED) has seized 86 land parcels in Chhattisgarh, totaling 73.34 hectares and valued at Rs 31.94 crore, linked to a bank loan fraud involving Shri Lakshmi Cotsyn Limited. The company is implicated in a Rs 7,377 crore fraud case declared by the Reserve Bank of India. Investigations revealed inflated inventory records and improper auction processes, with funds diverted to acquire land in the names of employees and local tribal individuals.

November 05, 2024
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