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They were allegedly acquired by an ex-Saharanpur MLC and others via illegitimate means The Enforcement Directorate has attached seven sugar mills in Uttar Pradesh, currently worth over ₹1,097 crore, in connection with their acquisition allegedly by former Saharanpur MLC Mohammed Iqbal and others in 2010-11 via illegitimate means. The mills, said to be owned by Mr. Iqbal and his family members, were sold to them at throwaway prices ₹60.28 crore through a disinvestment process. The ED’s money-laundering case is based on the investigations conducted by the Serious Fraud Investigation Office. In 2010-11, Namrata Marketing P Limited and Giriasho Company P Limited, the entities allegedly under the control of Mr. Iqbal and his family members, had participated in the bidding process for the disinvestment of mills of the U.P. government. They acquired the seven mills through laundering of illegitimate money using shell entities, as alleged. ....
UP sugar mill scam: Ex-MLC Md Iqbal acquired 7 sugar mills for Rs 60.28 cr (Ld) By IANS | Published on Tue, Mar 9 2021 20:36 IST | 0 Views
A truck laden with sugar canes at KR Market ahead of Sankranti in Bangalore on Jan.12, 2014. . Image Source: IANS News New Delhi/Lucknow, March 9 : In a big development in the Uttar Pradesh sugar mill scam, the Enforcement Directorate (ED) on Tuesday attached seven sugar mills valued at Rs 1,097 crore in the northern state belonging to former MLC Mohammad Iqbal, which he had bought at a throwaway price of Rs 60.28 crore through two shell companies that he had formed in the name of his family members. ....
UP sugar mill scam Rs 1000 crore property attached ex BSP MLC under scanner indiatvnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatvnews.com Daily Mail and Mail on Sunday newspapers.