The Enforcement Directorate (ED) seized assets worth approximately Rs 333.82 crore in the Dnyanradha Multistate Co-operative Credit Society Ltd (DMCSL) fraud case involving chairman Suresh Kute, who is in judicial custody.
The assets include properties, plant, and machinery of Kute Sons Dairys Ltd in Satara and Ahmednagar. The ED found that Kute and associates lured over 4 lakh investors with high returns but failed to pay back deposits.
Funds of Rs 2,467.89 crore were allegedly embezzled through loans to Kute’s companies and used for personal gains.