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The Enforcement Directorate (ED) has frozen assets worth Rs 245 crore in connection with its money laundering probe in the alleged fraud of Rs 2,200 crore with the State Trading Corporation (STC). The agency had early this year registered a criminal case under the Prevention of Money Laundering Act (PMLA) against Ms Global Steel Holding Limited, its chairman Pramod Kumar Mittal and others based on an FIR by the CBI. "Proportionate share of Mittal and Ms Global Steel Holding Ltd in Ms Balasore Alloys Limited which includes building, plant and machinery of Ms Balasore Alloys valued at about Rs 244.89 crore has been attached in lieu of the proceeds of crime," the agency said in a statement. The investigation revealed, it said, that Mittal and Ms Global Steel Holding Limited are holding 30.35 per cent of the shareholding of Ms Balasore Alloys through various Indian/ foreign promoter and investment companies and thus have a proportionate share of the said percentage in the fixed assets of Ms Balasore Alloys. The agency has earlier attached shares of Rs 62 crore (market value) in the name of Mittal and others in this case. The CBI case had been registered on the basis of a complaint from the PSU, the STC. It was alleged that Mittal committed "criminal breach of trust" as he failed to make payments as per terms and conditions of the agreement with STC. The STC had arranged export of raw material for new steel plants of Global Steel Philippines Inc (GSPI) in the Philippines and Bosnia, and also opened a line of credit for the company, the complaint had stated. It had said that despite irregular payments and piling up of credit, STC officials allegedly renewed the line of credit to the company.