New Delhi: The Enforcement Directorate (ED) has attached assets worth over ₹110 crore belonging to Lakhani India Limited in connection with an alleged bank loan fraud.
The probe, initiated under the Prevention of Money Laundering Act (PMLA), stems from CBI FIRs filed in 2021 and 2023 against Lakhani India Limited, Lakhani Rubber Udyog Pvt Ltd, Lakhani Apparel Pvt Ltd, and their promoters P.D. Lakhani and Suman Lakhani. The case involves allegations of criminal conspiracy, cheating, and misappropriation of funds.
According to the ED, Lakhani India and its group companies defrauded Indian Overseas Bank, Punjab National Bank, and Allahabad Bank by diverting funds and misusing credit facilities, leading to a ₹162 crore fraud.
“The company, under the direction of its promoters, misused business and capital loans by selling goods to related parties at a loss, repaying loans of sister concerns, and making unusual interest payments to directors,” the agency stated.
As part of its action, the ED has provisionally attached several properties, including:
✅ Five commercial plots spanning over 20 acres
✅ A two-acre farmhouse
✅ A commercial flat-cum-office in Delhi-NCR
The total value of the attached assets exceeds ₹110 crore, the ED confirmed.
Attempts to contact the accused companies and their promoters for a response were unsuccessful at the time of reporting.