ED attaches assets worth Rs 18.50 crores in Bank Fraud Case

Enforcement Directorate has attached assets worth 18.50 crores rupees in a Bank Fraud Case. The attached properties including 42 immovable properties and 7 movable properties in Punjab and Himachal Pradesh belong to Vikram Seth and his family members.

Earlier, CBI and ACB, Chandigarh had registered an FIR against Mr. Seth and his family members on allegations of criminal conspiracy, cheating, forgery of valuable security for the purpose of cheating and use of forged documents as genuine.

Investigation conducted by the CBI revealed that allegedly Vikram Seth in connivance with other accused and officials of Bank of Baroda fraudulently got 19 loans worth over 21 crore rupees sanctioned.