New Delhi, Dec 22 – The Enforcement Directorate (ED) on Friday said that it attached property worth Rs 35.10 crore of Tara Corporation Ltd and others in connection with a bank fraud case of Rs 40.92 crore.
The ED said that the attached immovable property is situated at Malerkotla, Punjab.
The probe revealed that the loan amount had been diverted to various bogus firms from Tara Corporation Ltd and thereafter diverted and integrated into Tara Health Food Ltd (THFL) and another sister concern by the name Tara Sales Ltd.
“The amounts received into THFL had been used for the purposes other than for which loan was availed. Amounts to the extent of Rs 3.12 crore had been diverted to the personal accounts of Jaswant Singh besides Rs 33.99 crore to THFL,” it said.
Earlier, the ED had arrested Jaswant Singh Gajjan Majra, former Director of Tara Corporation Ltd and Tara Health Food Ltd on November 6 this year. The ED case is based on FIR registered by ACB, CBI, Chandigarh.
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