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ED attaches assets worth Rs 20.65 cr in bank fraud case

The Enforcement Directorate (ED) on Tuesday said it has attached six immovable properties, located in different

bank fraud

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  2 Sep 2020 8:48 AM GMT

CHENNAI: The Enforcement Directorate (ED) on Tuesday said it has attached six immovable properties, located in different places in Tamil Nadu worth Rs 20.65 crore and owned by S. Galeel Rahman, under the Prevention of Money Laundering Act, 2002 (PMLA) in a bank fraud case. According to the ED, the attached assets include a factory building along with land measuring 2.92 acres at Konamedu Industrial Estate, Vaniyambadi, a residential flat in Chennai and plots in Vellore. The ED had initiated an investigation under the provisions of the PMLA based on a FIR registered by the Central Bureau of Investigation (CBI) against accused Tomy G Poovattil, S. Galeel Rahman and others for defrauding the Indian Bank, Guindy Branch, Chennai under section 120 BA r/w 420 of Indian Penal Code and section 13(2) r/w 13(1) (d) of Prevention of Corruption Act, 1988. The investigation has revealed that during the period from 2012 to 2014, Tomy G Poovattil, the then Assistant General Manager/Branch Manager of the Guindy Branch of Indian Bank had conspired with accused Rahman, Sirajuddin and others to cheat the Indian Bank by fraudulently sanctioning overdraft and credit facilities to various entities.

The accused Rahman managed to avail a loan on the basis of fabricated documents in the name of his firms namely M/s. Nafisa Overseas and M/s. Safa Leathers. (IANS)

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