Chennai: The Directorate of Enforcement (ED) has the attached properties worth RS 268.
66 Crore Agnite Education Limited in the case of money laundering.
He had started an investigation against Agnite Education Limited (formerly Teledata Informatics Limited) and the Director K Balalasubramaniam and K Padmanabhan two firs registered by CBI, Bengaluru, and CBI, Economic Bureau (EOB), Chennai, against Teledata Marine Solutions Limited.
The researchers said Teledata Marine Solutions Limited, were mainly involved in software development for shipping companies, and directors floating several companies in Singapore, Thailand, USA, and Virgin Islands, and utilizing Rs 479 loans from SBI in Chennai.
His company and its subsidiaries acquire property moving in the form of five LPG carrier vessels, an oil tanker regardless of the bank balance abroad by making false investments, related party transactions to expand the balance sheet sheet to utilize bank loans and divert funds to promoters and divert funds’ profit.
The defendant parked the funds available through bank loans in the form of assets (bank balances, property) in Austria, Thailand, USA, Singapore and Bangladesh.
Moving assets (in the form of shares, carrier ships and bank balances) to the RS268 Nada.
66 crores have been attached by ED to prevent their sales.
Likewise, Ed has attached a non-moving property worth RS 9.
08 Crore from Director of Cethar Ltd, Trichy, and family members in connection with bank fraud cases.
Ed has confiscated RS moving properties.
5.
63 Crore in July and December last year.
The company is under liquidation.