ED attaches properties worth Rs 483 Crore in bank fraud case
Enforcement Directorate (ED) has provisionally attached immovable properties consisting of commercially diverted land of 270374 square feet along with shopping mall in Nagpur worth Rs 483 crores of M/s KSL & Industries Ltd, Mumbai under Prevention of Money Laundering Act, 2002 (PMLA) in bank fraud case. M/s KSL & Industries Ltd ,Mumbai is one of the group company of Tayal group of Companies.
ED initiated investigation under PMLA on the basis of 3 FIRs of CBI(B&FC) against 3 different companies of Tayal group of Companies viz. M/s. Actiff Corporation Ltd, M/s. Jaybharat Textiles and Real Estate Ltd, M/s. KKTL and M/s. Eskay Knit (India) Ltd for cheating & fraudulently availing loans totaling to Rs 524 Crores from Bank of India and Andhra Bank during the year 2008.