ED's probe has revealed that parts of the loan funds borrowed from a consortium of banks, which constituted "proceeds of crime", were allegedly diverted for personal gains and needs of the accused.
The probe also revealed that parts of the funds, which were not used for sanctioned purposes, were used to purchase certain assets abroad, sources said. As part of its probe, ED is trying to reach the end beneficiaries of the proceeds of crime, the sources said. Goyal was arrested in Mumbai on September 1. The 72-year-old, who suffers from various health problems, is currently lodged in Arthur Road jail.
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