Ahmedabad: The Ahmedabad zonal office of the Enforcement Directorate (ED), on Jan 12, provisionally attached two immovable properties with a current market value of Rs 4.65 crore, in connection with a bank fraud case.The properties were in the name of Prem Devi Loonia and Payal Choksey. CBI registered an FIR in May 2018 against M/s Shree Om Fab (Prop. Ranjit Loonia) and others, based on a complaint by Oriental Bank of Commerce.
In a chargesheet filed by CBI in Dec 2019, officials said that Loonia was sanctioned a credit limit of Rs 9.95 crore (Rs 10.9 crore with interest). Loonia allegedly entered into a criminal conspiracy with others and cheated the bank by providing false and incorrect business records, creating forged documents, and submitting a fake valuation report for mortgaged properties to avail of loans, the ED release states.Loonia, according to the release, diverted loans to various bank accounts and withdrew them to purchase bullion, repay a house loan, etc. ED investigated the case under PMLA 2002, and recovered valuables worth Rs 3.67 crore.“During the PMLA investigation, it was revealed that housing loan repayment of two immovable properties was made through routing of funds from loan accounts and hence, the present provisional attachment order (PAO) dated Jan 12 was issued. The present cumulative market value of seizure/attachment of properties done so far by ED is Rs 8.30 crore approx,” the release mentioned.
