<span style="color: #222222;">Enforcement Directorate, ED, in a bank fraud case, has attached six immovable properties of S. Galeel Rahman located in Tamil Nadu. The attached immovable assets worth over Rs 20 crore are in the form of factory building along with land, residential flat in Chennai and plots in Vellore.&nbsp;</span><br />'' <br />'' <span style="color: #222222;">ED initiated investigations under the provisions of Prevention of Money laundering Act based on FIR registered by CBI and Anti-Corruption Branch, Chennai against accused Tomy G Poovattil, S. Galeel Rahman and others for defrauding Indian Bank.</span><br />'' <br />'' <span style="color: #222222;">The investigation revealed that Tomy G Poovattil, the then AGM of the Guindy Branch of Indian Bank had conspired with accused S. Galeel Rahman and others to cheat the Bank by fraudulently sanctioning overdraft and credit facilities to various entities.&nbsp;Accused S. Galeel Rahman managed to avail loan on the basis of fabricated documents&nbsp; in the name of his firms. The agency said, the sanctioned amounts were diverted and siphoned off.</span><br />'' &nbsp;
News On AIR | September 1, 2020 8:17 PM
ED attaches 6 immovable properties of S. Galeel Rahman in bank fraud case