ED attaches land parcel worth Rs. 37.39 crore in Anjar in a bank fraud case

Kutch: The Enforcement Directorate (ED) has provisionally attached four immovable properties valued at a total of Rs 45.23 crore in connection with a bank fraud case involving M/s Associate High Pressure Technologies Pvt Ltd (AHPTL). According to the ED, the alleged proceeds of crime in this case exceed Rs 149.89 crore.

The national probe agency, in a statement, said, “ED has provisionally attached 4 immovable properties worth Rs. 45.23 Crore in the form of a land parcel worth Rs 37.39 Crore situated in Distt Anjar, Gujrat and 3 flats having total worth 7.84 Crore situated in Bandra Mumbai belonging to Ramchand Kotumal Issrani, Mohamed Farouk Suleman Darvesh and Manoharlal Satramdas Agicha , promoter directors of M/s Associate High Pressure Technologies Pvt Ltd. in a bank fraud case.”

The ED initiated an investigation based on an FIR registered by the CBI under the IPC and Prevention of Corruption Act. The CBI’s FIR was filed in response to a complaint lodged by the Union Bank of India. The alleged proceeds of crime in this case surpass Rs 149.89 crore. The ED conducted 12 searches in Mumbai, Gandhidham, and Pune. Currently, Issrani and Agicha are in judicial custody. DeshGujarat