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ED Attaches ‘43.65 Crore Assets in Bank Fraud Case, Including Yes Bank Accounts & Promoters’ Shares
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News18•01-10-2026, 18:28
ED Attaches ‘43.65 Crore Assets in Bank Fraud Case, Including Yes Bank Accounts & Promoters’ Shares
- •The Enforcement Directorate (ED) provisionally attached movable assets worth ‘43.65 crore of M/s Electrotherm (India) Limited (EIL) under PMLA in a bank fraud case.
- •Attached assets include ‘25.08 crore in two Yes Bank accounts and 13,57,775 shares of promoters valued at approximately ‘18.57 crore.
- •Total ED actions in this bank fraud case, including attachment, seizure, and freezing, now amount to ‘81.97 crore.
- •ED also conducted search operations at 9 locations in Yavatmal, Maharashtra, in a ‘242 crore money laundering case related to Babaji Date Mahila Sahakari Bank.
- •The Babaji Date Mahila Sahakari Bank's license was canceled by RBI in 2022 after an audit revealed a scam involving officials, directors, and borrowers diverting loan money.
Key Questions Answered
The ED provisionally attached movable assets worth ₹43.65 crore, which include ₹25.08 crore held in two Yes Bank accounts and promoters' shares valued at approximately ₹18.57 crore.
Following the latest attachment of movable assets, the total seizure, freezing, and attachment actions taken by the ED in this bank fraud case have reached ₹81.97 crore.
The RBI canceled the bank's license in 2022 following a special audit that revealed a major scam involving illegal loan disbursements without proper collateral or repayment capacity assessments, leading to diverted funds.
