New Delhi: On Thursday, the Enforcement Directorate (ED) launched a series of searches across Delhi, Uttar Pradesh, and Haryana as part of an ongoing investigation into a money laundering case linked to an alleged bank loan fraud amounting to ₹190 crore, according to official sources.
The investigation centers around Shri Sidhdata Ispat Private Limited and associated entities, with allegations that the Bank of Baroda (formerly Dena Bank) has been defrauded in this matter.
Authorities are currently conducting searches at ten locations, including sites in Delhi, Ghaziabad, Noida, and Panipat. These locations are connected to the company’s directors, promoters, partners, auditors, and other individuals implicated in the alleged fraud.
Shri Sidhdata Ispat Private Limited specializes in the manufacturing of cold and hot rolled steel products. Efforts to reach the company’s promoters for comment regarding the ED’s actions have been unsuccessful at this time.
