08 March,2024 08:15 PM IST | New Delhi | ANI
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The Directorate of Enforcement (ED) has attached movable and immovable properties of Bhushan Steel Limited worth around Rs 367 crore under the provisions of PMLA, 2002 as part of a money-laundering probe linked to an alleged bank-loan fraud by the company. These assets were attached on March 6, ED said in a statement.
According to the official, these properties were situated in Delhi, Mumbai, Kolkata and Odisha. The attached properties were held in the name of shell entities through dummy directors so as to conceal the assets and to ensure that they are out of reach of law Enforcement Agencies.
"ED Delhi Zonal Office has attached movable and immovable properties of M/s Bhushan Steel Limited under the provisions of PMLA, 2002 amounting to about Rs. 367 crore on 06.03.2024. The immovable properties were situated in Delhi, Mumbai, Kolkata and Odisha. The attached properties were held in the name of benamidars/ shell entities through dummy directors so as to conceal the assets and to ensure that they are out of reach of law Enforcement Agencies," the ED said in a statement.
Earlier in February this year the Rouse Avenue Court on Wednesday granted bail to a woman accused in the Bhushan Steel Limited (BSL) money laundering case. She was arrested in January 2024.
It is alleged by the ED that accused Archana entered into a criminal conspiracy with her husband Ajay S Mittal and ex-promoters of BSL and mortgaged properties held by associate companies of BSL and raised loans to the extent of Rs 35 crore from an NBFC Edelweiss and this amount was transferred by her husband to accused Ritu Singal.
Special CBI judge Rajesh Kumar Goel granted bail to Archana Ajay Mittal after considering her medical condition and the provision related to granting bail to women accused under the Prevention of Money Laundering Act (PMLA).
The Court granted bail to Archana Ajay Mittal, subject to conditions including furnishing a bail bond of Rs 10 lakh and one surety bond in the like amount.
The allegations against the accused, Archana Ajay Mittal is that she had received an amount of Rs 45 crores during the financial year 2012-2013 from co-accused Brij Bhushan Singal which was diverted from the proceeds of crime, that is, from the coffers of the Bhushan Steel Limited (BSL).
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