ED files first chargesheet in Il&FS case; attaches property worth Rs 570 cr

New Delhi: The Enforcement Directorate filed its first chargesheet in the alleged IL&FS illegal payment default crisis and attached assets worth around Rs 570 crore recently, officials here said on Saturday, adding that the prosecution complaint was filed in a Mumbai court on Friday.

The chargesheet lays out roles of the directors and others in allegedly perpetrating the scam.

The ED probe revealed that senior management of

IL&FS had indulged in acts of commissions and omissions leading to illegal personal gains to them at the expense of the company.

The central agency also attached, under provisions of the PMLA, bank accounts and immovable properties located at Delhi, Mumbai, Chennai and Brussels, Belgium. These included bank accounts and immovable proprties "indirectly" held by Aircel founder C Sivasankaran as well.

The total value of attached properties is around Rs 570 crore.

These assets, commercial and residential, are held by the committee of directors of IL&FS Financial Services Ltd (IFIN) Ravi Parthasarathy, Ramesh Bawa, Hari Sankaram, Arun Saha and Ramchand Karunakaran, the ED attachment order said.

Saha and Karunakaran were arrested by the agency in June.