Ed Action Money Laundering: The Mumbai Zonal Office of the Enforcement Directorate (ED) has taken major action on Monday (27 January). The ED has seized assets worth Rs 79.78 crore in the bank fraud -related money laundering case against Sharon Bio Medicine Limited (SBML) and others. This case is related to loan scam of Rs 286 crore from banks through fake documents.
According to the information, attached properties are located in Navi Mumbai, Mumbai, Satara, Raigad (Maharashtra) and Dehradun, Haridwar, Pauri Garhwal in Uttarakhand. These include flats, plots, hotels and agricultural land. The value of the total assets is Rs 79.78 crore.
CBI and Anti Corruption Bureau Mumbai recorded FIR
In fact, the Enforcement Directorate ED has started the investigation on the basis of FIR lodged by the Central Bureau of Investigation (CBI) and Anti Corruption Bureau (ACB), Mumbai. It is alleged that the company caused a loss of Rs 286 crore to banks through fake documents.
Facts revealed in the investigation
Mohan Kala, Savita Gowda and Lalit Mishra, the then directors of Sharon Bio Medicine Limited, manipulated the stock statement, balance sheet and records. Through the transactions of fake sales and procurement, a large amount of loan was taken from banks. Funds from banks were diverted through shell companies. These funds were used to buy assets in the name of directors and their relatives.
Earlier action
According to the information, the ED raided on 23 October 2024, in which movable assets (bank accounts, FD, demat accounts) worth Rs 16.42 crore were seized and freezed. Offensive documents and digital devices were also recovered during the investigation.
Total attachment ever
Please tell that in this case, the ED has seized and attached assets worth a total of Rs 96.20 crore. It is clear from such action that these agencies are taking strict steps in cases of corruption and money laundering.
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