ED attaches properties worth 4.83 cr of S K Subramanya Reddy, others in Bank Fraud case

The immovable properties are located at Bangalore, Karnataka.

Enforcement Directorate, ED has provisionally attached five immovable properties worth four crore 83 lakh of S K Subramanya Reddy and others in a Bank Fraud case.

The immovable properties are located at Bangalore, Karnataka.

ED had initiated investigation on the basis of FIR filed by CBI and Anti-Corruption Bureau, Bengaluru against T.L. Praveen Kumar, the then Branch Manager of Bank of Baroda, Kengeri Branch, who in collusion with S K Subramanya Reddy and others had sanctioned 186 Gold loans.

The investigation revealed that Mr Reddy used these proceeds to settle his outstanding loans and overdraft facilities at Syndicate Bank.

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