 "Sanjay Singal, Promoter, Bhushan Power and Steel")
The Enforcement Directorate (ED) has filed a money laundering case against Bhushan Power and Steel (BPSL); its promoter Sanjay Singal; his wife, Aarti Singal; and directors, for allegedly siphoning off Rs 2,348 crore from loan accounts of multiple state-run banks.
According to the enforcement agency, the company promoters and directors of BPSL entered into a criminal conspiracy and diverted the loan amounts to dozens of shell companies created for this purpose.
“The Enforcement Case Investigation Report (ECIR) was registered on Wednesday against the firm and its promoters, directors and other staffs under the Prevention of Money Laundering Act (PMLA),” said an official
