ED attaches assets worth Rs 5.41 cr in bank fraud case

New Delhi, June 14 The Enforcement Directorate (ED) said on Wednesday that it has attached 13 movable and immovable properties worth Rs 5.41 crore, consisting of land, residential house, commercial shops located in Delhi, fixed deposits and bank balances, belonging to Saya Automobiles Ltd and its directors in connection with a bank fraud case.

The ED had initiated the investigation based on an FIR filed by the CBI against Saya Automobiles Ltd and others.

Saya Automobiles Ltd through its directors availed credit facilities to the tune of Rs 55 crore from the Canara Bank. The company's accounts slipped to NPA in 2020. Subsequently, based on a complaint filed by Canara Bank, the CBI registered an FIR in 2021.

"During the course of investigation, it was revealed that the company availed credit facilities on fabricated and manipulated financial statements and defrauded the bank by diversion of loan amount and entered into criminal breach of trust.

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