New Delhi: In a major crackdown under the Prevention of Money Laundering Act (PMLA), 2002, the Enforcement Directorate (ED) has provisionally attached immovable property worth approximately Rs. 486 crore in connection with the bank fraud case involving the erstwhile Bhushan Power and Steel Ltd (BPSL).
The attached property is a sprawling residential house located at Amrita Shergill Marg, New Delhi, spread over 1 acre (4840 sq. yards). The property is owned by Mrs. Aarti Singal, who served as a director of the now-defunct BPSL and is also the wife of Sanjay Singal, the former main promoter and director of the company.
This move comes as part of the ED's investigation into allegations of financial irregularities and money laundering by BPSL, which is accused of defrauding banks of thousands of crores.
The ED has been pursuing assets linked to key individuals involved in the case, and the attachment of such high-value property underscores the gravity of the allegations. Sources within the agency suggest that further actions may follow as investigations progress.
The Amrita Shergill Marg property, situated in one of Delhi’s most prestigious locations, is considered a prime real estate asset.
This attachment is part of the agency's efforts to recover proceeds of crime linked to the bank fraud, which has raised eyebrows across the financial and corporate sectors.
