Archive · 1 Oct 2026
ED Attaches Rs 43.65 Crore Electrotherm Properties in Fraud Case
The Enforcement Directorate has temporarily frozen and attached some assets linked to Electrotherm.
The assets are worth about Rs 43.65 crore.
They include money in two Yes Bank accounts.
They also include more than 13.5 lakh promoter shares in Electrotherm.
The shares are valued at Rs 18.57 crore.
The case concerns an alleged bank fraud involving Bank of India.
The Central Bureau of Investigation registered a case after the bank filed a complaint.
Altogether, assets worth Rs 81.97 crore have been attached, seized or frozen in the case.
The Enforcement Directorate provisionally attached Electrotherm (India) Ltd. properties worth Rs 43.65 crore.
The attachment includes Rs 25.08 crore held in two Yes Bank accounts.
It also covers 13,57,775 promoter shares of Electrotherm valued at Rs 18.57 crore.
The total attachment, seizure and freezing in the case has reached Rs 81.97 crore.
The investigation followed a Central Bureau of Investigation FIR based on Bank of India’s complaint over alleged losses.
- Who
- The Enforcement Directorate, Electrotherm (India) Ltd., its directors, the Central Bureau of Investigation and Bank of India are involved in the case.
- What
- The Enforcement Directorate provisionally attached movable Electrotherm-related properties worth Rs 43.65 crore under the Prevention of Money Laundering Act.
- When
- The attachment was announced on Thursday; the articles do not specify the date.
- Where
- The action was announced by the Enforcement Directorate’s Ahmedabad Zonal Office, while the related Central Bureau of Investigation unit is in Mumbai.
- Why
- The action relates to an alleged bank fraud case arising from a Central Bureau of Investigation FIR based on Bank of India’s complaint.
- New attachment
- Rs 43.65 crore in movable properties
- Yes Bank accounts
- Rs 25.08 crore
- Electrotherm shares
- 13,57,775 promoter shares valued at Rs 18.57 crore
- Total action in case
- Rs 81.97 crore attached, seized or frozen
- Complainant
- Bank of India
- Legal framework
- Prevention of Money Laundering Act
- Investigating agency
- Central Bureau of Investigation FIR prompted the Enforcement Directorate investigation