Fugitive Declared in Rs 24 Crore Bank Fraud Case
A Kolkata special court has ordered the confiscation of assets worth Rs 24 crore in a bank fraud case involving fugitive Pushpesh Kumar Baid. Baid is accused of orchestrating a scheme to secure loans from various banks using falsified documents. The Enforcement Directorate is leading the investigation.

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A special court in Kolkata has ordered the confiscation of assets worth Rs 24 crore from individuals involved in a significant bank fraud case, including a fugitive named Pushpesh Kumar Baid, according to a statement from the Enforcement Directorate (ED) on Thursday.
The assets, comprising both movable and immovable properties in prime locations across Kolkata, West Bengal, and Tiruppur, Tamil Nadu, are linked to Baid and his associates. Baid, identified as the 'mastermind', was declared a fugitive under the Fugitive Economic Offenders Act by the same court earlier this year, on January 3.
The case stems from investigations led by the ED and originated from multiple FIRs and chargesheets filed by the CBI. Baid, who is said to currently reside in the US, allegedly defrauded several banks by obtaining loans with false financial statements and forged documents. These banks include SBI, Dena Bank, Bank of India, Indian Overseas Bank, and Allahabad Bank, collectively defrauded to the extent of Rs 183 crore.
(With inputs from agencies.)
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