ED files chargesheet in Bhushan Power and Steel Limited bank fraud case

The Enforcement Directorate (ED) on Friday filed a charge-sheet against Bhushan Power and Steel Limited (BPSL) in connection with a money laundering case pertaining to an alleged bank loan fraud.

The agency had in October attached immovable properties worth Rs 4,025.23 crore of BPSL.

According to ED, the investigation revealed that "BPSL had used various modus operandi to siphon funds obtained as loans from various banks and financial institutions".