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ED seizes Rs 113 crore assets of industrialist Punj and his Lloyd Electric | India News


ED seizes Rs 113 crore assets of industrialist Punj and his Lloyd Electric

NEW DELHI: ED Wednesday said it had attached property worth Rs 113 crore of industrialist Bharat Raj Punj and his Lloyd Electric & Engineering Ltd in a case of alleged laundering of over Rs 376 crore of bank funds.The attached assets include land and industrial plots, residential properties in Delhi, Uttarakhand, Gujarat, MP, Telangana, Goa, Maharashtra and Tamil Nadu, a residential property in Houston, as well as bank deposits, fixed deposits and mutual fund investments.Punj and his company are accused of cheating a consortium of banks led by SBI by submitting false and manipulated financial statements.



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