New Delhi: The Enforcement Directorate (ED) has said that they had attached jewellery, valuables and cash worth Rs 11.62 crore belonging to various persons linked to the Chennai-based Surana Group of Companies in three cases of bank fraud of Rs 3,986 crore of principal outstanding amount to the public sector banks, an official said.
The official added on Wednesday that a prosecution complaint (charge-sheet) in the matter was already filed against the three group companies — Surana Industries Limited, Surana Corporation Limited and Surana Power Limited, two promoters of the companies and three other associated persons.
The prosecution complaint was filed before the Chennai Special Court which had taken cognisance of the matter.
The ED initiated investigations was on the basis of three FIRs by the Central Bureau of Investigation registered against Surana Industries Limited, Surana Power Limited and Surana Corporation Limited and others.
“Investigation revealed that these three companies of Surana Group have defrauded the banks by floating a web of shell companies that led to the accounts becoming non-performing asset and an amount of Rs 3,986 crore remained principal outstanding amount to the banks,” the official said.
The ED recently carried out searches in February 2021 at official and residential premises of various promoters, officials of the Surana Group and their family members and had seized jewelleries and cash from the said premises.
In the due course of investigation, it was established that the said jewelleries and cash had been derived out of the proceeds of crime siphoned off from the borrowed fund from banks, which was routed to the personal account of the promoters and their spouses, through their dummy director held companies, the ED alleged
In this case a PAO No.9/2022 had been issued earlier for Rs 113.32 crore.
–IANS