The Enforcement Directorate (ED) has attached movable and immovable assets worth Rs 58.34 crore belonging to Ritu Singal, wife of former Bhushan Steel promoter Neeraj Singal, in connection with an alleged money laundering case involving the diversion of funds from the erstwhile Bhushan Steel Limited (BSL).

According to the agency, the attachment was carried out under the Prevention of Money Laundering Act (PMLA) on June 24.

The assets include land and part of a residential property in Indore, Madhya Pradesh, along with equity shares and bank balances held in Ritu Singal's name.

The probe stems from a complaint filed by the Serious Fraud Investigation Office (SFIO), which accused Neeraj Singal and others of siphoning funds through sham transactions, allegedly causing losses of Rs 11,446.73 crore to banks and financial institutions.

The ED alleged that zinc ingots purchased from Hindustan Zinc Limited for Bhushan Steel's plants were diverted and sold in the open market without being recorded in the company's books.

The cash generated from these sales was allegedly used to obtain bogus long-term capital gains through penny stock companies. Investigators also cited large unaccounted cash deposits in bank accounts as evidence supporting the alleged diversion.

The agency had earlier attached assets worth Rs 61.38 crore in November 2021 and Rs 367 crore in March 2024 in the same case.

It has also filed prosecution complaints against Neeraj Singal, Ritu Singal and other accused, with the designated PMLA court taking cognisance of the matter.