Enforcement Directorate (ED) has provisionally attached 6 immovable and 4 movable properties worth around 32 crore Rupees held in the name of accused Persons in a bank fraud case.
The properties were held in the names of Narender Kumar Patel, Madhu Maruswamy,Jigishben Patel and Inrhythm Energy Limited. The ED initiated investigation on the basis of 3 FIRs registered by CBI and 1 FIR registered against then and others for defrauding several Banks to the tune of over 155 crore rupees. In a statement , the ED said that it has also filed a Prosecution Complaint against Narender Kumar Patel and 7 other accused.
Immediately after registration of the predicate FIRs by CBI, the accused persons Narender Kumar Patel, his wife Jigishben Patel & Madhu Maruswamy had fled from India and settled in USA. In January, 2021, with the help of immigration authorities, ED managed to intercept Narender Kumar Patel in January this year when he landed at Ahmedabad International Airport. He was arrested under PMLA Act 2002.
The remaining two main accused are still in USA.
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