Hyderabad: The Enforcement Directorate (ED) attached assets worth ₹1.1 crore in its probe into alleged irregularities by former office-bearers of AP Mahesh Cooperative Urban Bank.
On Tuesday, the Hyderabad zonal office of the ED announced the action under the Prevention of Money Laundering Act (PMLA), 2002. The properties are located in Adibatla village of Ibrahimpatnam mandal in Ranga Reddy district.
ED action in AP Mahesh Cooperative Bank case
The ED said the assets are in the name of Rohit Asawa, son of the bank’s former managing director and CEO, Umesh Chand Asawa. Investigators found that officials collected commissions of two to four percent for sanctioning loans. They later used the money to buy immovable properties.
The agency also said several FIRs named former chairman Ramesh Kumar Bang, Umesh Chand Asawa and Purushotham Das Mandhan. The probe continues.
