ADD ANI AS A TRUSTED SOURCE
googleads
Menu
General News

ED registers PMLA case in Simbhaoli Sugars Limited bank fraud

New Delhi [India], March 1 (ANI): The Enforcement Directorate (ED) on Thursday registered a money laundering case in connection with the Simbhaoli Sugars Limited alleged bank loan fraud.

ANI Mar 01, 2018 19:16 IST googleads

ED registers PMLA case in Simbhaoli Sugars Limited bank fraud

New Delhi [India], March 1 (ANI): The Enforcement Directorate (ED) on Thursday registered a money laundering case in connection with the Simbhaoli Sugars Limited alleged bank loan fraud.

The case has been registered under the Prevention of Money Laundering Act (PMLA).

Oriental Bank of Commerce has alleged that directors of Simbhaoli Sugar Mill have defrauded Rs 109 crore.

The Enforcement Directorate has also asked the bank to submit additional documents in connection with the case.

Faced with a CBI probe for alleged loan fraud, the Simbhaoli Sugars earlier this week had said it was committed to clear its outstanding dues to the Oriental Bank of Commerce in "due course of time" in consultation with all the lenders.

The Central Bureau of Investigation (CBI), earlier on February 22, had booked Gurpal Singh, son-in-law of Punjab Chief Minister Captain Amarinder Singh, and 12 others including Mann, Rao, Tapriya, executive director Gursimran Kaur Mann and other company officials along with some bank officials in connection with the same bank fraud.

It has been alleged that the company had diverted funds for personal use. The account turned Non-Performing Asset (NPA) on March 31, 2015 and was later declared as an alleged fraud by the bank to the Reserve Bank of India (RBI) on May 13, 2015 for an amount of Rs 97.85 crore. (ANI)

Get the App

What to Read Next

Politics

Giriraj Singh slams Rahul Gandhi over conduct in Parliament

Giriraj Singh slams Rahul Gandhi over conduct in Parliament

Speaking to reporters here on Thursday, Singh said the opposition had sought permission to speak on the issue of LPG, but did not adhere to the subject.

Read More
Politics

YSRCP files PIL challenging Andhra Pradesh govt’s land policy

YSRCP files PIL challenging Andhra Pradesh govt’s land policy

Former Andhra Pradesh Minister Gudivada Amarnath on Thursday said that the YSR Congress Party (YSRCP) has filed a Public Interest Litigation (PIL) challenging the land policy of the state government, alleging that large extents of valuable public land are being allotted to a few real estate companies at very low prices.

Read More
Politics

Congress' Muraleedharan says LPG shortage "affecting families"

Congress' Muraleedharan says LPG shortage

"Most of the hotels are closed. Even in the few that are open, we are not getting proper food. This situation is affecting families as well. Therefore, we request the Central Government to intervene in this matter and take strong action to ensure the supply of LPG gas," Muraleedharan told reporters in Thiruvananthapuram.

Read More
General News

Woman found dead in hotel room in North Delhi

Woman found dead in hotel room in North Delhi

According to Delhi Police, around 12:30 am, staff of Prince Hotel located at SPM T-point on Church Mission Road informed the beat staff that Room No. 205 was locked and the guest inside was not responding despite repeated knocking.

Read More
Politics

"No shortage of petrol, diesel or LPG": Hardeep Singh Puri

In his statement in the Lok Sabha, Puri said the government has taken multiple measures to safeguard the country's energy security and ensure the uninterrupted availability of petroleum products, cooking gas, and natural gas.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.