ED Conducts Raids in Connection with ₹190 Crore Bank Loan Fraud Case

ED's Investigative Actions Across Multiple States

The Enforcement Directorate (ED) has initiated searches at various locations in Delhi, Uttar Pradesh, and Haryana on Thursday, linked to a money laundering case involving an alleged bank loan fraud amounting to ₹190 crores. Official sources have confirmed this development.

According to the sources, the investigation pertains to Shri Siddhdata Ispat Private Limited and others, who are accused of defrauding Bank of Baroda (formerly known as Dena Bank).

The ED is reportedly conducting searches at a minimum of ten locations, including areas in Ghaziabad and Noida in Uttar Pradesh, as well as Panipat in Haryana. These locations are associated with directors, promoters, partners, auditors, and other alleged conspirators involved in the ₹190 crore bank loan fraud case.

The company under scrutiny is known for manufacturing steel products. As of now, there has been no immediate response from the promoters of the company regarding the ED's actions.