New Delhi, March 6 -- The Enforcement Directorate (ED), Hyderabad Zonal Office, on Friday said it has attached immovable properties worth Rs 26.86 crore in connection with a bank fraud case involving Sowbhagya Ispat India Pvt. Ltd. (SIIPL).
The attached properties include residential flats, a residential house, and open plots of land.
The ED initiated a PMLA investigation on the basis of an FIR registered by the CBI, BS&FB, Bangalore under Sections 120-B, 420, 468, and 471 of the IPC, and Section 13(2) read with Section 13(1)(d) of the Prevention of Corruption Act, 1988 against M/s Sowbhagya Ispat India Pvt. Ltd., its directors, and others for allegedly defrauding Andhra Bank (now union Bank of India) and causing wrongful loss to the bank...