ED Seizes Dubai Properties Worth Rs 51.70 Crore in Rs 1266.63 Crore SBI Fraud Investigation

Nov 19, 2025 12:42 am CST

The Enforcement Directorate has attached nine luxury Dubai properties worth Rs 51.70 crore linked to Advantage Overseas Private Limited's Rs 1266.63 crore fraud against State Bank of India. Investigation revealed Shrikant Bhasi transferred these properties to his daughter through gift deeds to conceal proceeds of crime generated through illegal merchanting trade transactions and bank fund diversions.