Kolkata, Dec. 3 -- The Enforcement Directorate (ED) has achieved a breakthrough against Prakash Vanijya Pvt Ltd and its promoter-director Manoj Kumar Jain, who allegedly defrauded the Central Bank of India of Rs. 234.57 crore through fraudulent banking transactions and diversion of loan funds.
The ED claimed that funds were illegally diverted after obtaining credit facilities based on inflated financial statements and forged documentation, causing a loss of Rs. 234.57 crore to the Central Bank of India.
During the investigation, the ED detected benami properties in West Bengaland Chhattisgarh worth Rs. 199.67 crore and confiscated those following fourattachment orders from the judiciary.
Recognising the urgent need to protect public inte...