ED raids 10 places in Delhi, Madhya Pradesh in Rs 273 crore bank fraud case

New Delhi [India], September 9 (ANI): The Enforcement Directorate (ED) on Tuesday conducted a search operation at ten locations across Delhi and Madhya Pradesh in connection with an alleged Rs 273 crore bank fraud case, officials said.

The agency carried out the searches at nine places in Delhi and one in Madhya Pradesh Bhopal. The premises covered in the search action belong to the entities and persons closely associated with the company.

ED recorded an Enforcement Case Information Report (ECIR) on the basis of the Central Bureau of Investigation (CBI) FIR, which was registered on the grounds of a complaint made by the bank.

The company and its promoters and directors siphoned off the loan and funds extended by IFCI (Industrial Finance Corporation of India) to the tune of approximately Rs 273 crores, the officials said.

Citing an investigation conducted by the ED, officials said a huge amount of the loan funds was diverted to various related entities of EHDL who were not engaged in any genuine business.

In another case, the Enforcement Directorate (ED) on Saturday filed documents of a complaint filed by BJP Leader Subramaniam Swamy in 2014 and the Enforcement Case Information Report (ECIR) in the National Herald Money laundering case against Congress leader Sonia Gandhi, Rahul Gandhi and others.

Special judge Vishal Gogne asked the ED to supply copies of the documents to all the proposed accused.

The court has listed the matter for hearing on September 16 to hear the submissions by counsel for the proposed accused persons, if any. Thereafter, the court will set a date for the order on cognisance.

The ED counsel confirmed this.

On Thursday, the court gave time to ED to file documents after hearing the submissions of ASG S V Raju in a closed court room hearing. The court has sought certain clarification from the ED.

This matter is pending for the order on summoning the Prosecution complaint filed by the ED.

During the hearing, the Additional Solicitor General (ASG) S V Raju appeared through video conferencing and stated that the ED is not averse to filing these two documents before the court and providing the same to the proposed accused. He sought to file the same through a formal application. (ANI)

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