This story is from August 24, 2019

Fresh ED searches on DCHL premises

Fresh ED searches on DCHL premises
Hyderabad: ED sleuths on Thursday conducted searches on the premises of Deccan Chronicle Holdings Private Limited in Hyderabad and Delhi, regarding an ongoing bank fraud probe. The searches were conducted to identify the crime proceeds in a money laundering case, which was booked in 2015, following six charge sheets being filed by CBI in a bank loan fraud case.
In March 2017, ED attached Rs 263 crore worth properties of DCHL, but found that value of physical assets was only Rs 25 crore.
The agency says fraud amount calculated was Rs 1,161 crore then, and added that it was probing to detect the rest of the money. ED now says that investigations conducted in the case was far from satisfactory, leading to fresh searches on Thursday.
DCHL had taken loans from 16 different banks and financial institutions between 2004 and 2012, which ED says would now be around Rs 9,000 crore with interest. TNN
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