The Enforcement Directorate (ED) on Thursday said it has attached assets worth Rs 58.19 crore in connection with a bank loan fraud case against a Haryana-based firm.

The central probe agency said the action, under the Prevention of Money Laundering Act (PMLA), was taken against the firm Ms Green Valley Plywood Limited of Rohtak as it "got issued letters of credit amounting to Rs 71.79 crore from Indian Overseas Bank (IOB) on the basis of fabricated documents showing sale/purchase of goods."

The ED had registered a money laundering case against the firm after taking cognisance of a CBI FIR and charge sheet filed against it last year.

"It was further revealed that all these transactions took place on paper without any actual movement of goods. By adopting this modus operandi, Ms Green Valley Plywood Limited caused a loss of Rs 71.79 crore to the IOB," the agency said in a statement.

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