Assets worth Rs 17.70 crore of a company have been attached under the anti-money laundering law in a probe linked to an alleged bank loan fraud of over Rs 804 crore, the ED said on Friday. A provisional order, under sections of the Prevention of Money Laundering Act (PMLA), for the attachment of the movable and immovable properties of the firm identified as ABC Pvt. Ltd and related entities was issued on June 10, the agency said in a statement.
“During the period 2014-15, the prime accused Ashish S Jobanputra without making any genuine exports, got prepared and signed the fake export documents and presented them to the
and ,” the Enforcement Directorate said.
Probe found that the “said company was availing bill discounting facilities from the above-mentioned banks against Letters of Credit of prime banks.”
Jobanputra, it claimed, got these “fake” export bills discounted from banks which remain unpaid and caused loss to the banks.
The money laundering case stems from a CBI FIR filed against the company, its director Ashish Sureshbhai Jobanputra and others.
It was alleged in the CBI FIR that ABC Cotspin Pvt. Ltd. “defrauded” the two banks to the tune of Rs 804.49 crore, it said.
