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ED Returns ₹63 Crore in Attached Assets to SBI and UCO Bank in GS Oils Case

The handover follows court approval under PMLA Section 8(8) stemming from a 2016 probe into diverted bank loans.

Overview

  • ED Hyderabad completed restitution of attached properties valued at about ₹63.05 crore to the victim banks.
  • State Bank of India received properties valued at ₹62.30 crore, while UCO Bank received assets worth ₹75 lakh.
  • The Special PMLA Court in Nampally cleared restitution through orders dated March 24 and December 17, 2025.
  • The attached assets comprise agricultural and industrial land in Adilabad, Asifabad and Mancherial in Telangana, and a parcel in Wani, Maharashtra.
  • Investigators traced loan diversion through round-tripping via associate firms, cash withdrawals, re‑mortgaging of land, and fraudulent letters of credit.