New Delhi, Feb. 20 -- The Enforcement Directorate (ED), Indore Sub-Zonal Office, on Friday said it has attached an immovable property worth Rs 5.13 crore in the case of Ruchi Global Ltd. (now known as Agrotrade Enterprises Ltd.).
The attached property is in the form of land registered in the name of Neeta Shahra, wife of Umesh Shahra.
The ED initiated a PMLA investigation based on an FIR registered by the CBI under Sections 13(2) and 13(1)(d) of the Prevention of Corruption Act for allegedly defrauding a consortium of banks led by Bank of Baroda (erstwhile Dena Bank), causing a wrongful loss of more than Rs 88.35 crore.
The company allegedly diverted and siphoned funds by investing in its group companies and by providing loans and advanc...