ED unearths clandestine removal of Rs 700 crores of goods in BPSL probe
Aug 20, 2020
New Delhi [India], August 21 : The Enforcement Directorate said on Thursday that it has unearthed clandestine removal of goods worth Rs 700 crores of Bhushan Power & Steel Limited both prior to and during proceedings before NCLT with due involvement of MK Khandelwal, Resolution Professional and a former director of BPSL in the bank fraud case.
The ED said in tweets that it found incriminating documents during searches on premises of Khandelwal which indicated huge cash transactions.
"ED unearths clandestine removal of goods worth Rs.700 crores of M/s Bhushan Power & Steel Limited both prior and during proceedings before NCLT with due involvement of M.K. Khandelwal, Resolution Professional and former Director of BPSL in bank fraud case," ED said in a tweet.
"During the search of the premises of Khandelwal and Director of BPSL incriminating documents indicating huge cash transactions by MK Khandelwal, Resolution Professional, digital records, jewellery worth Rs.86 lakh were seized," it added.
