Syndicate Bank Fraud | ED to attach 11 properties in Udaipur

Making moves in the multi-crore Syndicate bank finacial fraud cased, Enformcement Directorate (ED) issued eviction notices to 50 properties in Udaipur and Jaipur.

The list of properties that have been issued eviction notices include 6 commercial and 5 residential properties in Udaipur. Besides 39 offices in World Trade Park, Jaipur have also been served the notices.

A senior ED official said that the properties need to be vacated in 10-15 days time post which ED will take possession of the properties.

The multi-crore Synidicate Bank fraud involved Udaipur CA Bharat Bamb who opened fake accounts in Syndicate Bank in name of non-existent firms and took loans over 3 years. He has misused KYC documents of known people and created fictitious firms. Bamb is currently in jail.

ED had received a court approval for its earlier action of provisionally attaching properties worth 118 Crores in December. Post the court orders, ED is now proceeding with the current action.