The ED today said it has attached assets worth Rs 1,122 crore, including wind mills and an under-construction hotel, of Vadodara-based DPIL Pvt Ltd in connection with its money laundering probe in a bank fraud case. Diamond Power Infrastructure Limited (DPIL) is accused of cheating various banks to the tune of Rs 2,654 crore. "The assets of DPIL and its related companies such as Diamond Power Transformer Ltd, Diamond Projects Ltd, Mayfair Leisures and Northway Spaces have been attached as part of the provisional order. The ED is probing if the alleged defaulted loans were laundered to create illegal assets and black money by the accused. Among them, Bank of India's exposure to the company is Rs 670.51 crore, Bank of Baroda's Rs 348.99 crore and that of ICICI Bank Rs 279.46 crore, the CBI FIR said.

Source: dna April 24, 2018 06:33 UTC