New Delhi, Aug 31 (IANS): The Enforcement Directorate has attached Rs 109.03 crore immovable properties in a money laundering case relating to bank loan fraud by Kudos Chemie Ltd.

According to the ED on Saturday, the property attached under the Prevention of Money Laundering Act, 2002 (PMLA), included plots in Kuranwala, Saidpura, Gulabgarh, Madhopur and Ranguana villages of Punjab and a bungalow in Chandigarh.

"The assets belonged to Kudos Chemie and its directors Jitendra Singh and Gurmeet Sodhi and an associate company Kudos Holdings. On the basis an FIR of the CBI, the agency had initiated the investigation," the ED said.

The investigations revealed that Jitendra Singh had submitted 283 forged export bills to Punjab National Bank and got it discounted in connivance with officials, causing Rs 362 crore loss to the PNB.

"This Rs 362 crore was used for adjustments of cash credit accounts and other outstanding liabilities," it said.

Investigation revealed Rs 109.03 crore properties of Kudos Chemie, its directors Singh and Sodhi, and associate company Kudos Holdings were proceeds of the crime.