New Delhi, July 11 -- In a key development in the Rs 250 crore bank fraud case against an infrastructure company, the Enforcement Directorate (ED) has restored properties - attached as Proceeds of Crime (POC) - valued at Rs 55.85 crore to rightful claimants, an official said on Friday.
The POC were restored to the successful resolution applicant, which took over the management of Era Infra Engineering Limited as part of the resolution process. The company, Hem Singh Bharana (an official) and others were booked for fraud in 2018.
The restored properties include two tunnel boring machines and bank account balances of the company, the ED said.
Era Infra Engineering is engaged in diversified construction activities for infrastructure project...