ED attaches building worth Rs 190 cr in Bhushan Power and Steel case
New Delhi: The ED has attached a Mumbai building worth Rs 190 crore in relation to a money-laundering investigation linked to an alleged bank scam against former Bhushan Power and Steel Ltd CMD Sanjay Singal. The confiscated building is situated at Worli’s Ceejay House opposite Ultra Mall.
“The funds that were utilised for the purchase of this property by Assurity Real Estate LLP were siphoned from BPSL and routed through shell companies projecting the same as unsecured loans." “It has been established that the so called unsecured loans were without any documentation and repayment obligations," ED said in a statement.
The ED had filed a case of money laundering against Singal and some others basis a CBI FIR which was lodged in April 2019.