Hyderabad: Enforcement Directorate Hyderabad zonal office has provisionally attached two immovable properties worth ₹35 crore in connection with a bank fraud case involving BNR Infra & Leasing, Elite Infra Projects Private Ltd and others.The attached assets belong to Beereddy Narasimha Reddy and Anil Beniprasad Aggarwal and include a land parcel and a residential flat. The action was taken under the provisions of the Prevention of Money Laundering Act. The ED initiated its investigation based on two FIRs registered by the CBI’s economic offences wing in Chennai and Anti-Corruption Bureau in Hyderabad under various sections of the IPC and the Prevention of Corruption Act. According to the probe, BNR Infra and Elite Infra fraudulently availed credit facilities from State Bank of India and Bank of Maharashtra by submitting forged documents, misrepresenting the ownership and status of collateral properties and concealing material facts related to disputed land titles. The fraud allegedly caused a loss of about ₹8.2 crore to SBI and ₹26 crore to Bank of Maharashtra. The investigation further revealed that the fraudulently obtained loan funds were routed through multiple entities and diverted for unrelated liabilities and asset purchases.
