MUMBAI, Dec. 25 -- The Enforcement Directorate (ED) has facilitated the restitution of immovable assets worth Rs.63.05 crore, including a plot at Wani in Yavatmal district, to State Bank of India (SBI) and UCO Bank, as part of its money-laundering investigation relating to a Rs.306.33-crore bank fraud case against a private firm. Of the total restituted assets, in the form of agricultural and industrial plots, assets worth Rs.62.3 crore went to SBI, while assets worth Rs.75 lakh were handed over to UCO Bank. The assets had been attached by the ED in the case, initiated in 2016 against GS Oils Ltd and others. The case is based on complaints by SBI and UCO Bank against GS Oils Limited, which allegedly defaulted on loans sanctioned by the banks, leading them to be classified as non-performing assets (NPAs), ED officials said on Wednesday. Non-payment of these loans allegedly caused a loss of Rs.274 crore to SBI and Rs.32.33 crore to UCO Bank. "This restitution exercise marks a significant step in the ED's efforts to restore properties to their rightful claimants and to ensure that proceeds of crime are returned to those affected," an ED official said. The restituted assets, apart from the Yavatmal plot, include agricultural and industrial land in Adilabad, Asifabad and Mancherial districts in Telangana. The accused had availed multiple credit facilities from SBI and UCO Bank and the money was allegedly parked with various associate companies. Subsequently, they were either withdrawn in cash or utilised for purchasing land in the name of associate companies, which were then mortgaged for more loans, ED officials said. A large part of the loans was allegedly diverted by fraudulently issuing Letters of Credit (LCs) to related shell firms for bogus supply of material. A LC is a bank-issued document guaranteeing payment from a buyer to a seller in a trade, provided the seller meets certain conditions and submits certain documents. The LCs allegedly devolved and the funds were illegally channeled back to the firm's promoters, ultimately causing huge financial loss to the PSU banks, the officials said....