AMN
The Enforcement Directorate, ED, has attached assets worth over four thousand and 25 crore rupees of Odisha-based Bhushan Power and Steel Limited in a bank fraud case. The assets include the company’s land, building, plant and machinery.
In a statement, the ED said, it had initiated investigations under the Prevention of Money Laundering Act on the basis of an FIR registered by the CBI against the former CMD of the company and others. Investigations revealed that the company had used various modus operandi to siphon off funds obtained as loans from various banks and financial institutions.