The Directorate of Enforcement (ED) has provisionally attached immovable and movable properties including residential sites, commercial properties, and a farmhouse located in Bengaluru worth ₹104.9 crore, and cash of ₹14.5 lakh belonging to Bharath Infra Exports and Imports Ltd. in a bank fraud case.
The ED initiated investigation on the basis of an FIR registered by CBI, Bank Securities Fraud branch, Bengaluru, against Bharath Infra Exports and Import Pvt. Ltd. and its promoters and directors under various sections of IPC of 1860 and Prevention of Corruption Act.
In another case, ED seized nine immovable properties located in Maharashtra and Karnataka worth ₹65.53 crore belonging to Venkateshwara Hatcheries Pvt. Ltd. (M/s VHPL) under the provisions of Foreign Exchange Management Act (FEMA), 1999. The ED had initiated investigation in connection with the illegal remittances made by the company since 2011 till date to its wholly-owned subsidiary named Venky’s Overseas Ltd. (M/s VOL), U.K.
