"The agency took up the investigation against Ms SVIL and others under the provisions of PMLA.
"Ms SVIL Mines also got loan from fourteen banks led by Punjab National Bank, leaving an outstanding of Rs 266.28 crore in bad debts," the agency said.
It said immovable assets like factory land and other plots in Rohtak and Agartala of SVIL and its directors Sanjay and Rajiv Jain, worth Rs 52.87 crore, have been attached.
The assigned rating factors in the company's long operating history; its steady business volumes over the years from the highly competitive automotive replacement market in the USA and Europe; and its investments in two joint venture companies - SFN, in partnership with German Freudenberg & Co and Japanese NOK (TYO:7240), and SVIL
(in partnership with German Vibracoustic GmbH & Co.