Enforcement Directorate vs Parekh Aluminex Ltd and others

Timeline

1. 3 Nov 2026News

   ED attaches ₹ 54-cr assets in Parekh Aluminex bank fraud case, total attachments nears ₹ 546 cr

   The ED’s Mumbai zonal unit is probing the case under the Prevention of Money Laundering Act (PMLA), 2002, based on an FIR registered by the Central Bureau of Investigation’s (CBI) Economic Offences Wing against PAL and others | Mumbai news

   Hindustan Times

   Explanation in simple terms

   What:

   The Enforcement Directorate seized property worth 54 crore rupees in a bank fraud investigation.

   Who:

   The Enforcement Directorate is the investigation agency, while Parekh Aluminex Ltd is the company accused of the fraud.

   When:

   Reported on 3 Nov 2026.

   Where:

   Mumbai, Maharashtra.

   Why:

   The Enforcement Directorate is investigating money laundering based on an official police report from the Central Bureau of Investigation.

   What it means:

   The total value of property seized by the agency in this ongoing investigation has reached 546 crore rupees.

2. 2 Nov 2026News

   ED Attaches Assets Worth ₹53.95 Crore In Parekh Aluminex Bank Fraud Case; Total Attachment Reaches ₹546 Crore

   The ED has attached assets worth Rs 53.95 crore in the alleged Rs 2,296-crore Parekh Aluminex bank fraud case, taking total attachments to approximately Rs 546 crore. The agency alleges that inflated loan statements facilitated fraud involving 17 banks and that Rs 110.54 crore was diverted through entities linked to the J K Shah Group.

   Free Press Journal

   Explanation in simple terms

   What:

   The government agency seized assets worth fifty-three point nine five crore rupees as part of an ongoing fraud investigation.

   Who:

   The Enforcement Directorate is the government agency, while Parekh Aluminex Ltd and the J K Shah Group are entities mentioned in the case.

   When:

   Reported on 2 Nov 2026.

   Where:

   Maharashtra.

   Why:

   The agency alleges the company used inflated loan statements to cheat seventeen banks and diverted over one hundred crore rupees.

   What it means:

   These seized assets bring the total value of attached properties in this bank fraud case to five hundred forty-six crore rupees.