The Enforcement Directorate (ED) has restituted properties worth Rs 199.67 crore to the Central Bank of India, which were previously attached under the Prevention of Money Laundering Act (PMLA) in a case involving M/s Prakash Vanijya Private Limited and its promoter-director, Manoj Kumar Jain.
According to the ED, Jain allegedly diverted loan funds totaling Rs 234.57 crore, obtained through inflated financial statements and forged documents. The agency had earlier attached properties in West Bengal and Chhattisgarh worth Rs 199.67 crore through four provisional orders, which were subsequently confirmed.
The ED emphasized the need to protect public interest and ensure recovery of public sector bank funds. Several meetings were held with senior officials of the Central Bank of India, who then filed an application for restitution of the attached properties. This was supported by a consent petition from the ED, enabling judicial consideration.
On November 28, 2025, the Chief Judge of the City Sessions Court, Calcutta, approved the restitution of the properties to the bank, affirming its right to recover dues. The court also noted that the ED raised no objection, provided dues were fulfilled and any surplus deposited with the competent PMLA authority.
