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ED attaches assets worth RS 200 crore in IDFC First Bank and AU Small Finance Bank scam

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The Enforcement Directorate (ED) has attached assets worth Rs 200.83 crore in connection with the alleged IDFC First Bank and AU Small Finance Bank scam.The agency filed a prosecution complaint against 14 entities, including several firms, before a Special PMLA Court on July 9.On Friday, the Special PMLA Court in Panchkula remanded the alleged mastermind of the scam, former IDFC First Bank branch manager Ribhav Rishi, to judicial custody along with real estate businessman Vikram Wadhwa, former IDFC First Bank relationship manager Abhay Kumar, and former Superintendent in the Development and Panchayats Department Naresh Kumar.The ED said it had attached immovable properties worth Rs 179.83 crore and movable assets worth Rs 20.99 crore, taking the total value of attached assets to Rs 200.83 crore.The attached assets include properties in Chandigarh, Mohali, Panchkula and Delhi, besides multiple bank accounts and fixed deposits.Among the key properties attached are those located in Sectors 33-C and 21-C in Chandigarh, which are allegedly linked to Vikram Wadhwa. An industrial plot in Chandigarh linked to Ribhav Rishi and his wife, Divya Arora, has also been attached.The next hearing in the case is scheduled for August 4.

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