Bank loan fraud: ED attaches Rs 20-cr assets of Rajasthan based company

The Enforcement Directorate, ED has attached assets valued over 20 crore rupees of a Rajasthan-based company and its promoters under the anti-money laundering law in connection with an alleged bank loan fraud case probe.

The case pertains to the company identified as Emgee Cables and Communications and its directors Shripal Choudhari, Anuradha Choudhari, Abhinav Choudhari and others.

The probe agency said, the company through firms such as Reliance International, New Generation INC a dummy firms created by Shripal Choudhari and Kandoi Metal Powder Mfg Pvt Ltd had fraudulently shown inflated sales and purchase without their being actual sale or purchase and defrauded the creditors including Dena Bank.

The attached properties include two residential houses, a factory, 5 offices, two plots, agriculture land and the hostel of GIT College located in Jaipur totalling nearly 19 crore.

It also include movable properties in the form of bank balances, plant and machinery and three cars worth nearly 1.5 crore.

The ED took over the probe in the case taking cognisance of an FIR filed by the Rajasthan Police in May last year and two charge sheets filed by it last year and the latest being in April this year.

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