Bhubaneswar: The Enforcement Directorate i.e. ED has taken a big action on the declared Bhushan Power and Steel Company. The ED has taken action in the case of taking a loan of Rs 5500 crore on the basis of fake documents by the company's promoters. Bhushan Power and Steel Company has attached its factory at Sambalpur. The value of the seized property is said to be Rs 4025 crore. The ED has taken this action based on the direction of the Delhi CBI court. In the latest case, a complaint was filed against the promoter of the company Sanjay Singhal and others for taking loans of about Rs 5500 crore from Punjab National Bank and Allahabad Bank by showing fake documents.
The CBI was investigating this case. The CBI had registered a case against Sanjay Singhal and others under forgery, criminal conspiracy, anti-corruption law and money laundering. The case is being heard in a CBI court in Delhi. After confirming the allegation of forgery on Singhal family, the CBI court directed the ED to seize the company's assets. For the information, let us tell you that the process of selling the law to the bankrupt Bhushan Power and Steel Company is going on. JSW Steel has submitted the highest bid of Rs 19500 crore to buy this company. The company currently has a bank debt of Rs 48000 crore.
Also Read:
Yogi government's big Diwali gift, more than 27 lakh employees will get benefits
Hagibis storm continues to wreak havoc in Japan, 14 killed, millions displaced
CM Yogi campaigned in Haryana, attacked Congress on the issue of Rafael worship
