The Enforcement Directorate (ED) has provisionally attached 11 immovable properties worth Rs 42.36 crore belonging to the directors of Shree Mahalaxmi Corporation Pvt. Ltd, a Kolkata based company, under the provisions of Prevention of Money Laundering Act (PMLA), in a bank fraud case.
The ED had initiated money laundering investigation on the basis of an FIR registered by CBI, Kolkata on March 28, 2017 and a chargesheet filed by the Central probe agency on December 30, 2019 under sections of Indian Penal Code (IPC) and Prevention of Corruption Act against the accused firm Shree Mahalaxmi Corporation Pvt. Ltd, its directors and others, for defrauding the State Bank of India (SBI) to the tune of Rs 164 crore.