ED Restores Rs 45 Crore Properties to Canara Bank in Loan Fraud Case

• The Enforcement Directorate (ED) facilitated the restitution of properties worth Rs 45 crore to Canara Bank.
• The case involves Pushpendra Singh, director of Sushri Jagdamba AMW Automotives Private Limited, and others who allegedly used forged documents to avail multiple vehicle loans.
• The accused reportedly cheated lenders of Rs 18.32 crore by not delivering vehicles and using loan amounts for personal gain.
• ED registered a money laundering case under the Prevention of Corruption Act against Singh, Canara Bank officials, and others.
• A PMLA special court in Jabalpur ordered the restitution of attached properties after Canara Bank's application.

Why It Matters: ED successfully restored Rs 45 crore worth of properties to Canara Bank in a significant loan fraud case.