Vododara:

The Enforcement Directorate has attached property worth around Rs 1122 crores of the Vadodara based Promoter of Diamond Power Infrastructure Ltd (DPIL) S N Bhatnagar and his two sons and Managing Director and Joint MD of the company Amit and Sumit Bhatnagar in connection with the Rs 2654 crores bank loan defraud case.

The ED which had earlier this month lodged a case under PMLA against the trio nabbed from hotel in Udaipur on April 17 and currently on CBI remand till April 27, has attached various properties of theirs in Vadodara and other locations including Bhuj.

An ED official said that the properties attached included the bungalows of the accused and building, machinery and other properties including land and flats of DPIL and its subsidiaries and the trio. Other properties were also being identified for seizure.

‘We have also attached an under construction hotel of Mayfair Leisures Ltd, a fully owned subsidiary of DPIL, which itself was an electrical equipment manufacturer. 3 windmills of another subsidiary of the company in Bhuj. Most of the properties attached was based in and around Vadodara,’ he said.

Notably, a special CBI court in Ahmedabad on April 18 allowed 9 days remand (till April 27) of the three accused of Rs 2654 crores bank loan defraud case in which the loan from a consortium of 11 banks and 8 other finance companies was fraudulently obtained. The trio was brought to Gujarat after their arrest from Paras Mahal hotel in Udaipur of neighbouring Rajasthan during joint operation by the CBI and Gujarat ATS in the night of April 17.

Notably, the Income Tax department had after 3 day long raids on the residences and other properties the 3 accused in Vadodara had on April 13 seized various incriminating documents, luxury vehicles, cash worth around 5 lakhs, jewelry and other valuables worth over 44 lakhs and sealed over half a dozen of their bank accounts.

ED and CBI had filed cases against them and had conducted raids too. The first raid of CBI was conducted on April 5 in Vadodara while the ED raids happened a day later.

DeshGujarat