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SFIO probes 107 cos, 7 LLPs in Punjab National Bank scam

Press Trust of India  |  New Delhi 

The (SFIO) is probing 107 companies and seven Limited Liability Partnerships linked to and groups with regard to the nearly Rs 12,700 crore scam, the government said today.

A multi-agency probe is already underway into the fraud which was mainly perpetrated by way of fraudulent Letters of Undertaking (LoUs).

told the Lok Sabha that an investigation by the SFIO has been ordered into the affairs of "107 companies and 7 LLPs belonging to and Groups".

The probe agency comes under the corporate affairs ministry.

In a written reply, Jaitley, who is also the Corporate Affairs Minister, said the ministry has filed a petition against individuals, groups and their entities belonging to and Groups before the bench of the

"... the tribunal has passed an injunction against all the respondents and other companies, LLPs, trusts and individuals from removal, transfer or disposal of funds, assets and properties of the individuals until further orders," he said.

The CBI has registered cases relating to the matter and has made several arrests.

On the basis of FIRs registered by CBI, has filed two cases under the provisions of the Prevention of Money Laundering Act, 2002, the said.

"Letter of Request to 13 countries have been issued by the court seeking details of properties, of companies etc. The has moved the court for obtaining non-bailable warrants against accused persons. Further investigation is in progress," Jaitley said in the written reply.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 09 2018. 17:30 IST