The Enforcement directorate (ED) here has attached a property worth Rs one crore belonging to a gem company for defaulting bank loan.

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The action was taken under Money Laundering Act, 2002 against Shanti Kumar Choradia, Umraomal Choradia and their companies, an ED statement said today.

These entities had taken a loan which was not repaid following which the Bank of Baroda lodged an FIR with CBI in October 2007 for causing undue pecuniary loss to the extent of Rs 30 crores.

CBI had filed chargesheet in this regard in March 2009 under section 120(B), 420, 467, 468 and 471 of IPC.

The Enforcement Directorate Jaipur also registered a case under prevention of Money Laundering Act in December 2012 under which the house, purchased in the year 2012 in the name of Shanti Kumar Choradi's son, was attached recently.