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Standard Chartered Bank pulled up for selling ED-attached London property SECTIONS Share Synopsis The authority has held that the British multinational bank acted in “haste” to sell the property that stood provisionally attached by the ED in a ₹47,000 crore bank fraud scandal involving former Bhushan Power & Steel Ltd chairman Sanjay Singhal. Agencies The adjudicating authority under the Prevention of Money Laundering Act (PMLA) has disapproved the “hurriedness” in the sale of a London property by Standard Chartered Bank, holding that the transaction was not executed in a “bona fide manner”. The authority has held that the British multinational bank acted in “haste” to sell the property that stood provisionally attached by the ED in a ₹47,000 crore bank fraud scandal involving former Bhushan Power & Steel Ltd chairman Sanjay Singhal.

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