The Enforcement Directorate has attached assets worth over Rs. 480 crores of REI Agro Ltd, a basmati rice processing company, in connection with an alleged multi-crore bank loan fraud case. It is alleged that REI Agro and its directors, Sandip Jhunjhunwala, Sanjay Jhunjhunwala, and others availed of credit facilities to the tune of Rs 3,871.71 crore from 14 banks under a consortium arrangement and diverted funds. The central agency issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA) against the firm. The money laundering probe is based on an FIR registered by the Central Bureau of Investigation.

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