New Delhi, Nov. 19 -- The Enforcement Directorate (ED) today announced that its Bhopal Zonal Office has attached nine luxurious immovable properties in Dubai, United Arab Emirates (UAE), under the Prevention of Money Laundering Act (PMLA).
A senior ED official stated that the attached properties, comprising apartments and commercial spaces, are valued at approximately Rs. 51.70 crore.
"The action is part of an investigation into a bank fraud case involving Advantage Overseas Private Limited (AOPL), its directors, guarantors, and other related individuals, including its main director and significant beneficial owner, Shrikant Bhasi. The fraud caused a wrongful loss of Rs. 1,266.63 crore to the State Bank of India (SBI). The attached proper...