ED attaches ₹6.56 crore properties in Assam bank loan fraud case
Synopsis
The ED has provisionally attached six properties worth ₹6.56 crore in Guwahati, tracing them to an alleged ₹10.65 crore bank loan fraud from 2013. Nearly ₹8.67 crore of the disbursed funds were allegedly siphoned through a web of related entities — with a CBI chargesheet already filed against nine accused, including bank officials.
Key Takeaways
The ED, Guwahati Zonal Office provisionally attached six properties worth ₹6.56 crore on 9 May 2025 .
Properties include commercial spaces and flats in Shine Towers and Shine Heaven projects in Guwahati .
M/s Agnipa Energo Pvt.
Ltd. allegedly secured a ₹10.65 crore loan from Bank of India in February 2013 using fabricated documents.
Nearly ₹8.67 crore of the ₹9.33 crore disbursed was allegedly siphoned to related entities via round-tripping.
The CBI filed a chargesheet in October 2024 against nine accused , including three Bank of India officials.
Further investigation is underway; total wrongful loss to Bank of India estimated at ₹8.76 crore .
The Directorate of Enforcement (ED), Guwahati Zonal Office, has provisionally attached six immovable properties worth around ₹6.56 crore in connection with a money laundering case linked to alleged bank loan fraud by M/s Agnipa Energo Pvt. Ltd. and others, officials said on Saturday, 9 May. The attached assets are located in Guwahati, Assam, and are held in the names of individuals and a real estate firm allegedly connected to the fraud.
Properties Attached
According to the ED, the attached properties include two commercial spaces in the "Shine Towers" project and two flats along with two penthouses in the "Shine Heaven" project, both situated in Guwahati. The properties are registered in the names of Anil Jaina, Runu Jaina, and M/s Shine Realtors Pvt. Ltd.
Background: The Bank Loan Fraud
The ED initiated its investigation under the Prevention of Money Laundering Act (PMLA), 2002, based on a First Information Report (FIR) registered by the Central Bureau of Investigation (CBI), Anti-Corruption Branch, Guwahati, following a complaint filed by Bank of India. The CBI subsequently filed a chargesheet in October 2024 against nine accused persons, including three promoter-directors of the borrower company, three Bank of India officials, and partners of conduit entity M/s Shine Mechfab JV.
Investigators allege that the promoter-directors of M/s Agnipa Energo Pvt. Ltd. secured a ₹10.65 crore loan from Bank of India in February 2013 for a small hydropower project in Assam's Baksa district by submitting fabricated documents. Forged records were allegedly used to falsely show an equity infusion of ₹3.75 crore through M/s Urch Traders Pvt. Ltd., while a substituted certificate was also submitted in the name of a person who was never the company's statutory auditor.
How the Funds Were Allegedly Siphoned
The ED alleged that out of the ₹9.33 crore disbursed between 2013 and 2015, nearly ₹8.67 crore was siphoned off to related entities, including M/s Shine Mechfab JV, M/s Shine Realtors, M/s Shine Combine, and M/s Shine Shelters Pvt. Ltd. Officials further alleged that funds were diverted through round-tripping transactions and undisclosed bank accounts, in violation of sanction conditions, causing a wrongful loss of ₹8.76 crore to Bank of India.
Investigation Status
The ED confirmed that further investigation into the case is currently underway. This attachment marks a significant step in recovering proceeds of crime allegedly generated through the fraudulent loan and subsequent fund diversion. The case underscores the ED's continued focus on bank fraud-linked money laundering in the northeastern region.
Point of View
Yet the CBI chargesheet came only in October 2024, over a decade later. The involvement of three Bank of India officials in the chargesheet is the more troubling detail mainstream coverage tends to skim past: it points to insider facilitation, not just external fraud. The ED's property attachment now adds a recovery dimension, but with ₹8.76 crore in alleged losses and only ₹6.56 crore attached, the gap remains. The northeastern region has seen a pattern of hydropower and infrastructure loan frauds; without faster detection mechanisms at public sector banks, attachments like this will remain belated remedies.
NationPress
11 Aug 2026
Frequently Asked Questions
What properties has the ED attached in the Assam bank fraud case?
The ED has provisionally attached six immovable properties worth ₹6.56 crore in Guwahati, comprising two commercial spaces in 'Shine Towers' and two flats along with two penthouses in the 'Shine Heaven' project. These are held in the names of Anil Jaina, Runu Jaina, and M/s Shine Realtors Pvt. Ltd.
What was the alleged fraud committed by M/s Agnipa Energo Pvt. Ltd.?
The company's promoter-directors allegedly secured a ₹10.65 crore loan from Bank of India in February 2013 for a hydropower project in Assam's Baksa district using fabricated documents, including forged equity infusion records and a false statutory auditor certificate. Nearly ₹8.67 crore of the disbursed amount was allegedly siphoned to related entities.
Who has been chargesheeted in the case?
The CBI filed a chargesheet in October 2024 against nine accused persons, including three promoter-directors of M/s Agnipa Energo Pvt. Ltd., three Bank of India officials, and partners of conduit entity M/s Shine Mechfab JV.
What is the total loss caused to Bank of India?
According to officials, the alleged diversion of funds through round-tripping and undisclosed bank accounts caused a wrongful loss of ₹8.76 crore to Bank of India.
What law is the ED using to investigate this case?
The ED is investigating the case under the Prevention of Money Laundering Act (PMLA), 2002, based on the original FIR registered by the CBI's Anti-Corruption Branch in Guwahati following a complaint by Bank of India.
