ED attaches Rs 255-cr assets in loan fraud case of Maha

ED attaches Rs 255-crore assets in agri loan fraud case of Maharashtra

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Properties worth Rs 255 crore have been attached in connection with a money laundering probe linked to a case of alleged agricultural loan fraud and duping of farmers in Maharashtra, the Enforcement Directorate said on Wednesday.

"Assets worth Rs 255 crore of Gangakhed Sugar & Energy Limited (GSEL), Yogeswari Hatcheries and Gangakhed Solar Power Limited have been provisionally attached under Prevention of Money Laundering Act (PMLA)," the central agency said in a statement.

"The case pertains to fraudulent availing of agricultural loans in the name of innocent and poor farmers," it said.

The attached assets include a sugar plant and machinery of GSEL worth Rs 247 crore situated at Gangakhed in Parbhani district of Maharastra, land worth Rs 5 crore of GSEL, Yogeswari Hatcheries, Gangakhed Power Solar Limited in Parbhani, Beed and Dhule, bank balance of Rs 1.58 crore and investment in shares of Rs 1.91 crore held in the name of GSEL, it said.