NEW DELHI: The Enforcement Directorate (ED) has attached assets worth Rs 452 crore of a British national accused of receiving kickbacks through involvement of a Chinese contractor in IL&FS group companies. This latest action takes the total attachment in the IL&FS fraud and money laundering case to more than Rs 1,500 crore.
Treating it as ‘proceeds of crime’, the ED has attached assets of a Singapore-based shell company owned by British national Jaimin Vyas. The attached assets are in the form of 8.86% shares of IL&FS Tamil Nadu Power Company Limited (ITPCL), presently worth around Rs 452 crore, the ED attachment order claimed. “There was a well planned conspiracy to defraud IL&FS and Indian banks by Jaimin Vyas in connivance with officials of IL&FS and one Chinese contractor, SEPCO III,” ED said disclosing details of the probe.