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ED attaches assets worth over Rs. 4,000 cr of Bhushan Power and Steel Ltd in bank fraud case

Bhubaneswar:12/10/19:The Enforcement Directorate, ED, has attached assets worth over four thousand and 25 crore rupees of Odisha-based Bhushan Power and Steel Limited in a bank fraud case. The assets include the company’s land, building, plant and machinery.

In a statement, the ED said, it had initiated investigations under the Prevention of Money Laundering Act on the basis of an FIR registered by the CBI against the former CMD of the company and others. Investigations revealed that the company had used various modus operandi to siphon off funds obtained as loans from various banks and financial institutions.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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