New Delhi, Dec. 24 -- The Enforcement Directorate (ED), Hyderabad Zonal Office, today announced that it has successfully completed the restitution of attached properties, worth approximately Rs 63.05 crore (at the time of attachment), to the State Bank of India (Rs 62.30 crore) and UCO Bank (Rs 75 lakh).
The properties were attached during investigations under the Prevention of Money Laundering Act (PMLA) in the case involving G.S. Oils Limited.
The ED initiated its investigation against G.S. Oils Ltd. and others in 2016 based on First Information Reports (FIRs) registered by the CBI, BS & FC, Bangalore, and CBI, ACB, Nagpur. These FIRs stemmed from complaints filed by SBI and UCO Bank against G.S. Oils Limited & others for securing loans...