ED attaches Rs 255-crore assets to Maharashtratra's agricultural loan fraud case

In connection with a money-laundering investigation linked to a case of suspected agricultural loan fraud and duplication of farmers in Maharashtra, estates worth Rs 255 crore were attached, the Compliance Directorate said on Wednesday.


Under the Prevention of Money Laundering Act (PMLA), assets worth Rs 255 crore were provisionally attached to Gangakhed Sugar & Energy Limited (GSEL), Yogeswari Hatcheries, and Gangakhed Solar Power Limited.
This case involves the fraudulent use of agricultural loans on behalf of innocent and vulnerable farmers.

The attached properties include GSEL sugar plant and machinery valued at Rs 247 crore located at Gangakhed in the Maharastra district of Parbhani, GSEL land valued at Rs 5 crore, Yogeswari Hatcheries, Gangakhed Power Solar Limited in Parbhani, Beed, and Dhule, bank balance of Rs 1,58 crore and investment in Rs 1,91 crore shares kept on behalf of GSEL.