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ED attaches Balasore Alloys’ assets worth Rs 244.89 crore

Balasore Alloys

Bhubaneswar: The Enforcement Directorate (ED) today attached immovable assets of M/s Balasore Alloys Ltd to the tune of Rs 244.89 crore.

The ED has attached the assets under Prevention of Money Laundering (PMLA) Act, 2002, in a case of defrauding State Trading Corporation (STC) by M/s Global Steel Holding Ltd of Pramod Kumar Mittal.

“Mittal and GSHL’s share in Balasore Alloys includes building, plant and machinery totalling approximately Rs 244.89 crore which has been attached in lieu of the proceeds of crime”, an ED statement said.

Earlier on March 29, the ED had filed a money laundering case against Mittal, GSHL and STC officials following an FIR registered by the CBI on March 16.

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