India, Feb. 14 -- The Mumbai unit of the Enforcement Directorate (ED) has provisionally attached immovable properties worth Rs.132.85 crore in connection with its money laundering probe into an alleged Rs.1,438 crore bank fraud involving private firm Ushdev International Limited (UIL). The attached assets include land parcels and office areas in Mumbai and Raigad.

According to ED officials, UIL, a metal trading company, allegedly obtained loans and credit facilities from a consortium of banks led by the public sector State Bank of India (SBI) by submitting forged trade documents. The documents allegedly showed business transactions that did not actually take place, prompting banks to release funds.

The ED began its investigation after a...