ED Restores Rs 45 Crore in Assets to Canara Bank as Enforcement Drive Expands

Overview

• A Jabalpur PMLA court ordered restitution of attached properties with a present market value of about Rs 45 crore to Canara Bank in a forged vehicle loan case linked to Sushri Jagdamba AMW Automotives, following a prosecution complaint filed in 2024 and the bank’s 2025 application.
• In the Andhra Pradesh skill-development probe, the ED filed a supplementary prosecution complaint naming executives and Designtech Systems, with total attachments in the case now at Rs 54.74 crore after the Visakhapatnam special court took cognizance on January 28.
• The ED provisionally attached 19 immovable properties valued at Rs 5.15 crore tied to former GHMC town planning official Dacha Janardhan Mahesh in a disproportionate assets case initiated by the Hyderabad ACB.
• In a separate Hyderabad bank-fraud case, the agency attached four properties worth Rs 2.91 crore linked to Subbaiah Korrapati, alleging forged documents, diversion of loan proceeds, and misuse of the NSIC Raw Material Assistance Scheme that caused a Rs 12.30 crore loss to a public sector bank.
• In Madhya Pradesh, the ED attached assets valued at about Rs 9.79 crore belonging to ex–health director Amarnath Mittal and Rs 5 crore linked to late IAS officer Arvind Joshi in disproportionate assets investigations that originated from Lokayukta cases.