Saturday, 18 November 2017
newkerala.com
News Astrology Education Gallery Games India Info Maps Recipes Travel
Home » News » Gujarat News » ED attaches properties worth Rs. 132 crore in Biotor bank fraud case
9 months ago | 09-02-2017 | ANI

ED attaches properties worth Rs. 132 crore in Biotor bank fraud case

Vadodara, (Gujarat), Feb. 9 : The Enforcement Directorate (ED) has attached properties worth Rs. 132 crore belonging to Biotor Industries Ltd, a Vadodara based firm that manufactures castor oil and its derivatives in a bank fraud case.

The market value of the attached assets is Rs. 300 crore.

The Banking and Securities cell of the Central Bureau of Investigation (CBI) in 2011 had registered a case against the Director's of the castor oil manufacturing company for allegedly submitting forged documents to three banks for obtaining a loan of Rs. 1,500 crores.

The loans were availed from Bank of Maharashtra, Oriental Bank of Commerce and Central Bank of India for procuring raw materials for manufacturing castor oil from the farmers.

The Enforcement Directorate had previously attached five properties of Biotor Industries worth Rs. 17 crore under the Prevention of Money Laundering act (PMLA) in 2014.

Share it!
ED attaches properties worth Rs. 132 crore in Biotor bank fraud case


Post your comment

RSS Feeds

Read other Gujarat News stories

Visit Home Page for fresh content









News Trends:
  • ConcertoHealth Chosen by Seattle Primary Care Innovation Elective for Citywide Training Program
  • Prolacta Bioscience Supports Prematurity Awareness Month with New Educational Resources for Parents of Preemies
  • New FAU Advising Program Supports Foster Care And Homeless Students
  • Old Navy to give USD 1 to Boys and Girls Clubs for every USD 1 Cozy Sock purchased on Black Friday, up to USD 1 million
  • AAA And Keolis Launch Nation's First Public Self-Driving Shuttle In Downtown Las Vegas
  • Medical Marijuana, Inc. Subsidiary Kannaway Announces New Hemp-Based SuperGreens

  • Popular Posts: