New Delhi, June 26 -- The investigating agency Enforcement Directorate (ED) has attached assets of worth more than Rs 9,000 crore in a money laundering case filed against Sterling Biotech, a Gujarat-based pharmaceutical firm having its name involved in a multi-crore bank fraud case. The worth of the attached properties, inclusive of those overseas, has come up to be at Rs. 9,778 crore.
The officials have said that the central probe agency has issued a provisional order of attachment under the Prevention of Money Laundering Act (PMLA).
The firm is alleged to have borrowed money accounting to more than Rs. 5,000 crore from a consortium led by Andhra Bank that has converted to non- performing assets. The loan fraud against the company is peg...