Bank loan fraud: ED attaches Rs 483-cr assets of Kolkata business group

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Press Trust of India New Delhi
Last Updated : May 14 2019 | 3:57 PM IST

Assets worth Rs 483 crore of a Kolkata-based group have been attached by the ED in connection with an alleged multi-crore bank loan fraud case, the agency said Tuesday.

The agency said in a statement that it has "provisionally attached immovable properties comprising commercially diverted land of 2,70,374 sq ft along with shopping mall in Nagpur worth Rs 483 crore of KSL and Industries Ltd, Mumbai under the Prevention of Money Laundering Act (PMLA) in a bank fraud case."
It said the group and its 4 firms including KSL and Industries had availed loans of Rs 524 crore from the Bank of India andAndhra Bankin 2008 which was allegedly defrauded by it using a "maze of shell or illegal companies."

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First Published: May 14 2019 | 3:57 PM IST

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