The Enforcement Directorate (ED) has attached immovable properties worth Rs 4,025.23 crore of Bhushan Power & Steel Limited (BPSL) in an alleged bank fraud case under the Prevention of Money Laundering Act, 2002 (PMLA).

Enforcement Directorate attaches assets worth Rs 4025.23 crore of Bhushan Power & Steel limited in bank fraud case

The Allahabad Bank on Saturday became the second Indian state-owned bank to report a major alleged fraud by bankrupt steelmaker Bhushan Power & Steel Ltd this month, adding to concerns about a banking industry burdened with bad debts.

Allahabad Bank reports $259 million alleged fraud by Bhushan Power & Steel

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Enforcement Directorate attaches assets worth Rs 4025.23 crore of Bhushan Power & Steel limited in bank fraud case

Allahabad Bank reports $259 million alleged fraud by Bhushan Power & Steel