ED provisionally attaches assets of Maharashtra-based Gangakhed Sugar & Energy Limited
The Enforcement Directorate (ED) has provisionally attached assets worth `255 crores of Maharashtra-based Gangakhed Sugar & Energy Limited (GSEL), Yogeswari Hatcheries, Gangakhed Solar Power Limited under Prevention of Money Laundering Act (PMLA) in an agricultural bank loan fraud case.
The attached assets include sugar plant and machinery of GSEL worth `247 crore, situated at Gangakhed, District Parbhani, Maharashtra, land worth `5 crores of GSEL, Yogeswari Hatcheries, Gangakhed Power Solar Limited situated at District Parbhani, Beed, Dhule Maharashtra, bank balance of `1.58 crores, investment in shares of `1.91 crores held in the name of GSEL.
The ED had initiated investigation in May 2019, under the provisions of PMLA on the basis of an FIR registered by Gangakhed Police against GSEL, Ratnakar Gutte chairman and others under IPC sections relating to cheating,
