Rs 220 crore bank fraud case against pharma company: ED conducts searches 8 locations in Mumbai, Haryana
Directorate of Enforcement (ED), Mumbai Zonal Office has seized/frozen movable assets i.e Bank funds, Demat accounts to the tune of Rs.14.53 Crore (approx.) along with various other incriminating documents, digital devices and immovable property related documents in search operations conducted at 8 locations in Mumbai and Yamuna Nagar, Haryana.
The search operations were conducted under the Prevention of Money Laundering Act (PMLA), 2002 as a part of the ongoing probe in a bank fraud case of M/s. Sharon Bio Medicine Limited, Mohan Prasad Kala, Ms. Savita Satish Gowda, Lalit Shambu Misra and others.
ED initiated investigation on the basis of FIR registered by CBI, ACB, Mumbai against M/s Sharon Bio Medicine Limited (SBML) and others under various sections of IPC, 1860 and Prevention of Corruption Act, 1988 for committing fraud against banks by using bogus documents. SBML has caused loss to the banks of Rs.220 Crore (approx.).
Read also: No violation of Abbott's trademark: Delhi HC upholds trademark of Mebufen against Brufen
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.