ED attaches Rs 200 cr assets of Kolkata businessman in bank fraud case

The ED attached properties worth Rs 199.67 crore in West Bengal and Chhattisgarh through four provisional orders, which were later confirmed.

In its statement, the agency said, “Recognising the urgent need to protect public interest and ensure recovery of public sector bank funds, several meetings were convened with senior officials of the Central Bank of India. The bank subsequently filed its application for restitution of attached properties, which was supported by a consent petition filed by the Directorate of Enforcement, enabling judicial consideration for restitution.”

On November 28, 2025, the Chief Judge of the City Sessions Court, Calcutta, allowed restitution of the attached properties to the bank, observing that it was entitled to recover its dues. The court also noted that the ED had raised no objection, subject to fulfilment of dues and deposit of any surplus before the competent PMLA authority.

According to the bank’s latest valuation report, the current realisable value of the properties stands at Rs 169.47 crore, following a market-linked reassessment during the restitution process. The ED traced the attached assets by tracking layered financial transactions. The agency launched its PMLA probe in connection with the matter after examining a CBI FIR.

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