JAMMU, Aug 22,2025 : The Enforcement Directorate (ED), Jammu Sub Zonal Office, has provisionally attached immovable assets worth ₹66.77 crore in connection with a money laundering probe against Bharat Papers Limited.
According to an official statement, the attached properties include the factory land and building of Bharat Papers Limited, along with two residential houses belonging to its directors and their relatives.
The case stems from an FIR registered by the CBI, ACB Jammu, against company directors Anil Kumar, Parveen Kumar, Baljinder Kumar, and Rajinder Kumar for allegedly defrauding a consortium of banks led by the State Bank of India of around ₹200 crore.
The ED probe revealed that loan funds were diverted through shell entities, siphoned via cash withdrawals, and misused by selling machine parts from the factory without bank knowledge.
The agency said further investigation is underway, noting that financial crimes like money laundering, hawala, and narco-funding remain under close scrutiny due to their suspected links to terror financing in J&K.
