ED Restores Assets Worth Rs 623 Million To SBI In G.S. Oils Case

India’s Enforcement Directorate (ED) has announced the restitution of properties worth approximately Rs 62.3 crore to the State Bank of India (SBI) in the G.S. Oils case. These assets were earlier attached under provisions of the Prevention of Money Laundering Act (PMLA) as part of investigations into financial irregularities involving the company.

The ED’s move marks a continuation of its broader effort to return recovered assets to public sector banks impacted by large-scale fraud and default cases. The restitution is expected to support SBI’s recovery of dues in the long-running case.

Key Highlights:

• ED handed over attached properties valued at around Rs 623 million to SBI.
• The restitution was approved following adjudication proceedings under the PMLA.
• G.S. Oils was investigated for financial irregularities and loan defaults.
• The process is part of ED’s initiative to restore confiscated assets to affected lenders.
• Similar restitutions have been carried out for other nationalized banks in recent years.

Source: Enforcement Directorate (Press Release), State Bank of India filings, Ministry of Finance.