IndiaPosted at: Nov 17 2025 5:06PM


ED initiates restitution of Rs 55.85 cr properties to SBI

New Delhi, Nov 17 (UNI) The Enforcement Directorate (ED), Mumbai Zonal Office, on Monday said that it has initiated the process for the restitution of immovable properties worth Rs 55.85 crore to the State Bank of India in the case of Varron Aluminium Private Limited.
"These assets were provisionally attached by the ED under Section 5 of the Prevention of Money Laundering Act (PMLA), as Varron Aluminium Private Limited and other group companies/persons had cheated the Bank and siphoned off bank funds for their personal benefits," an official said.
The ED initiated a PMLA investigation based on FIRs registered by the CBI, BS&FC, Mumbai, against Varron Aluminium Private Limited (VAPL) and others for defrauding the Bank of India and SBI to the tune of Rs 293.74 crore and Rs 401.25 crore, respectively. It was alleged by the investigating agency in its chargesheet that a Manual Letter of Credit of Rs 300 crore was issued by Canara Bank on behalf of VAPL in favour of its group company VACPL, and the same was discounted by the Bank of India against fake documents without proper verification.
Please log in to get detailed story.
Tags: #ED initiates restitution of Rs 55.85 cr properties to SBI
More News

Priyanka Gandhi demands probe into Goa Nightclub Fire killed 23

07 Dec 2025 | 10:32 AM

New Delhi, Dec 7 (UNI) Congress leader Priyanka Gandhi Vadra has expressed anguish over the devastating fire at a nightclub in Arpora, Goa, that has claimed the lives of at least 23 people.

see more..

PM Modi mourns Goa nightclub fire tragedy; 23 dead in Arpora blaze

07 Dec 2025 | 10:01 AM

New Delhi, Dec 7 (UNI) Prime Minister Narendra Modi on Sunday expressed sorrow following the devastating fire at a nightclub in Arpora, Goa, which has tragically claimed at least 23 lives and left approximately 50 people injured.

see more..

India, US strongly condemn Red Fort terror bombing

07 Dec 2025 | 1:56 AM

New Delhi, Dec 6 (UNI) India and the US strongly condemned the November 10 heinous Red Fort terror incident and the Pahalgam terrorist attack, and stressed that those responsible for terrorism should be held accountable.

see more..

Two teens killed after car rams motorcylce in Outer Delhi

07 Dec 2025 | 12:34 AM

New Delhi, Dec 6 (UNI): Two teenagers lost their lives after a car allegedly rammed into their motorcycle on Delhi's Bawana Road, which lies in the other north of the city, police said today.

see more..

Shah calls on dairy sector to also focus on high-value products that have huge global demand

07 Dec 2025 | 12:07 AM

New Delhi, Dec 6 (UNI) union Home Minister and Minister of Cooperation Amit Shah on Saturday said that there are many high-value dairy products in the world that are not yet being manufactured in India.

see more..