The Enforcement Directorate (ED) on Tuesday carried out searches at 11 premises in Delhi, Haryana and Goa in connection with an alleged money laundering case involving alleged illicit loss of around $155.21 crore to Oriental Bank of Commerce and consortium banks, officials said.
The Chandigarh Zonal Office of the Enforcement Directorate has launched a search operation at these premises allegedly linked to Ashok Mittal, Saurabh Dhingra, Bharat Bhushan Mittal, Raman Singhal and others in Karnal, Delhi and Goa in Haryana in connection with the investigation against Mahesh Timber Limited.
Also Read I’m Abhishek Banerjee in the soup amid TMC crisis: Om Birla’s 2-hour deadline, 19-hour roast
The case is based on the First Information Report (FIR) registered by the Central Bureau of Investigation (CBI) against Mahesh Timber Pvt Ltd, its directors and others for offenses under the Indian Penal Code (IPC) and the Prevention of Corruption Act.
Also Read I Kerala: ED questions CMRL MD’s wife and son in money laundering probe
According to the Executive Director, the accused fraudulently enhanced Foreign Letters of Credit (FLCs) through alleged unauthorized SWIFT modifications without corresponding entries into Finacle, causing an alleged illicit loss of approximately $155.21 crore to Oriental Bank of Commerce and consortium banks.
Read also I ₹18.4 Crore Across 129 Accounts in Online Investment Fraud Probe”>ED Freeze $18.4 crore across 129 accounts in online investment fraud investigation
Officials said the raids were underway since early Tuesday in close coordination with the police, based on certain inputs against the persons accused in the case.
