Rs187.29 Crore Bank Loan Scam: ED Attaches 20 Flats Worth Rs24.24 Crore Linked to SSK Trading, Bansals
Moneylife Digital Team 25 April 2025
The Delhi zonal office of the Directorate of Enforcement (ED) has provisionally attached 20 residential flats in the national capital valued at Rs24.24 crore under the Prevention of Money Laundering Act (PMLA), 2002. The action is part of an ongoing investigation into financial irregularities involving SSK Trading Pvt Ltd and its directors, Surender Kumar Bansal and Shefali Bansal.
 
The attached properties belong to AS Technobuild Pvt Ltd, Mr Bansal, and Ms Bansal. The ED’s move follows a first information report (FIR) registered by the central bureau of investigation (CBI) and Delhi police under various sections of the Indian Penal Code, 1860.
 
 
According to the ED, the investigation has uncovered a criminal conspiracy in which the directors of SSK Trading allegedly defrauded Punjab National Bank (PNB) and other financial institutions to the tune of Rs187.29 crore. The fraud involved obtaining cash credit facilities from PNB using hypothecation of stock and collateral securities, which were later misused.
 
Instead of using the loans for legitimate business purposes, the funds were allegedly diverted to purchase immovable properties in the names of entities associated with SSK Trading, as well as in the personal names of the promoters, ED says.
 
Mr Bansal was previously arrested under Section 19 of the PMLA on 15 November 2022. Subsequently, the ED filed a prosecution complaint before the Special Court on 13 January 2023. The court took cognisance of the matter on 10 March 2023.
 
The ED has stated that further investigation into the matter is ongoing.
 
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