ED attaches former Nalco chief's assets in graft case

ED attaches former Nalco chief's assets in graft case

The Enforcement Directorate (ED) has attached assets – gold bricks and cash worth around Rs 2.15 crore – of former Nalco chief Abhay K Srivastava and his aides in connection with a 2012 case involving money laundering and corruption.

The case registered last year by the ED is an offshoot of a 2012 CBI case in which Srivastava, who was Nalco chairman and managing director, and an alleged middleman B L Bajaj were named for “illegal acquisition of cash by the CMD when he was in the chair for allotment of tenders”.

The attached assets include ornaments, gold bricks and Rs 9.50 lakh cash, which were earlier seized by the CBI. During investigations, it came to light that the assets lying in Srivastava’s locker in Bank of Maharashtra were not from his known sources of income.

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