ED, Kochi has provisionally attached assets worth Rs.16.52 Crore (approx.) of the Directors of M/s. Surabhi Steels Private Limited and its Group companies, situated at Palakkad in the State of Kerala and Coimbatore in the State of Tamil Nadu, under the provisions of PMLA, 2002, as part of investigation into the Indian Overseas Bank, Coimbatore Branch fraud case

On 12/03/2025, the Enforcement Directorate (ED) issued an update regarding "ED, Kochi has provisionally attached assets worth Rs.16.52 Crore (approx.) of the Directors of M/s. Surabhi Steels Private Limited and its Group companies, situated at Palakkad in the State of Kerala and Coimbatore in the State of Tamil Nadu, under the provisions of PMLA, 2002, as part of investigation into the Indian Overseas Bank, Coimbatore Branch fraud case". The provisional attachment includes 17 immovable properties worth Rs.16.52 Crore (approx.).