Bank loan fraud: ED attaches Rs 110-cr assets of Simbhaoli Sugar company

CNBC-TV18 2019-07-02

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The ED Tuesday said it has attached assets worth Rs 110 crore of Simbhaoli Sugars Limited, one of India's largest sugar mills, in connection with a money laundering probe against the firm related to an alleged bank loan fraud. The agency said a provisional order was issued under the Prevention of Money Laundering Act (PMLA), for attachment of properties like land, buildings, plant and machinery of the distillery unit of the company located in Simbhaoli, Hapur in Uttar Pradesh.

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