New Delhi, June 10 -- The Enforcement Directorate (ED) has attached an Arabian Sea-facing Maharashtra-based property having a current market value exceeding Rs 60 crore in connection with its ongoing Rs 1,400 crore S Kumars Nationwide Limited (SKNL) bank fraud investigation.

As per the federal agency, the property is based near Alibaug in Murud town of Maharashtra's Raigad district and is beneficially owned by Nitin Kasliwal, former Chairman and Managing Director of SKNL.

ED's Indore sub-zonal officer attached the property under the provisions of the PMLA, 2002, following its investigation in the case, which revealed that Nitin Shambhukumar Kasliwal utilised a network of interconnected entities and group companies controlled by him and ...