The Enforcement Directorate has taken physical possession of a mall worth ₹483 crore, located in Nagpur in connection with an alleged bank fraud case against the Tayal Group of companies.
The Empress Mall, constructed on a commercially diverted land spread across 2,70,374 square feet, belongs to KSL & Industries Limited, said the agency.
The ED probe is based on three First Information Reports (FIR) registered by the Central Bureau of Investigation against three different companies of Tayal Group of companies: Actiff Corporation Limited, Jaybharat Textiles & Real Estate Limited and KKTL/Eskay Knit (India) Limited. They were accused of cheating the Bank of India and the Andhra Bank of ₹524 crore.
According to the agency, the Empress Mall was provisionally attached under the Prevention of Money Laundering Act, 2002 and the order was subsequently confirmed by the Adjudicating Authority. A charge sheet was then filed against the accused persons. The court concerned in Mumbai has taken cognisance of the money laundering offence on January 22.
