Deccan Chronicle Loan Fraud Case: ED Attaches Immovable Assets Worth Rs 122.15 cr

Fri Oct 16 2020 20:35:30 GMT+0530 (IST)

As the latest development in the alleged loan fraud case against the Deccan Chronicle Holdings Limited (DCHL), the total value of the asset attached in this case rose to Rs 264.56 crore, media reports claimed

The law enforcement agency, Enforcement Directorate (ED) has attached immovable assets worth Rs 122.15 crores, including properties in various Indian cities.

According to the information, the newly attached assets belong to the DCHL company and two former promoters of the company, and a company, that is believed to be a Benami company.

If the information of the media reports is to be believed, the immovable assets attached in the case include properties from New Delhi, Hyderabad, Gurgaon, Chennai, and Bengaluru.

The case was transferred to ED back in 2015, on the grounds of various FIRs and the charge sheet filed by the Central Bureau of Investigation (CBI) in connection with the loan fraud case.

However, a separate charge sheet was filed by the Central Crime Station (CCS) against the Deccan Chronicle Holdings Limited (DCHL) company.

The loan fraud in this much-talked-about loan fraud is worth around Rs 8,180 crores. A deep probe was instigated under the charges of the Prevention of Money Laundering Act, 2002 (PMLA).