Tuesday, November 26, 2019

BPSL acquired Rs 27,559-crore assets by diverting loans: ED

The agency has said BPSL acquired land valued at about Rs 361 crore, made addition of buildings valued at Rs 7,473 crore and plant and machinery of Rs 19,725 crore between 2011 and 2017. The funds infused as equity capital by the Singals and associated promoter companies were sourced from bank loans that were illegally diverted.

from Energy-Industry-Economic Times https://ift.tt/35B9c41

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