Jalandhar, Aug. 8 -- The Enforcement Directorate (ED) has filed a prosecution complaint with special court for PMLA at Mohali under the Prevention of Money Laundering Act (PMLA), 2002, against Snehal Enterprises, related persons/entities, bank official and one government official involving in relation to a bank fraud case of Rs.56.43 crore.

ED spokesperson stated that the agency initiated investigation on the basis of various FIRs registered by the CBI and the Punjab Police under various sections of the IPC, 1860, and the Prevention of Corruption Act, 1988.

ED probe revealed that Snehal Enterprises, which was hypothecated with the bank, had reportedly indulged in fake circular banking transactions with its related entities without any m...