As per reports, the Enforcement Directorate informed on Tuesday (01 April) that Assets worth more than INR 110 crore of Lakhani India shoe company have been attached under the anti-money laundering law in an alleged bank loan fraud case.

Lakhani India Limited and its group companies jointly defrauded the Indian Overseas Bank, Punjab National Bank and Allahabad Bank by misappropriation and diversion of funds to other group companies, resulting in a fraud of INR 162 crore.