The Directorate of Enforcement (ED) has provisionally attached 62 immovable properties to the tune of approximately ₹30.26 crore belonging to Heera Construction Co. Pvt. Ltd., its managing director Abdul Rasheed, Heera Educational and Charitable Trust, and sister concern Heera Summer Holiday Homes Pvt. Ltd. as proceeds of crime in a bank-fraud case.
The accused, Mr. Rasheed, was arrested for alleged money laundering on December 4. The Central agency had initiated investigation on the basis of a first information report (FIR) registered by the Kochi unit of the Anti-Corruption Bureau (ACB) of the Central Bureau of Investigation (CBI). The FIR was registered on the basis of a complaint by State Bank of India, Kowdiar branch, against Heera Construction Co. Pvt. Ltd, Mr. Rasheed, and others.
