The Enforcement Directorate (ED) on Tuesday conducted a search operation at ten places in Delhi and Madhya Pradesh in the alleged Rs 273 crore bank fraud case.The agency raided nine in Delhi and one place in Bhopal, Madhya Pradesh. The campus involved in the search operation belongs to closely associated institutions and individuals from the company.
The ED filed an enforcement case information report (ECIR) based on the FIR of the Central Bureau of Investigation (CBI), which was lodged on the basis of the complaint made by the bank.“The company and its promoters and directors embezzled about Rs 273 crore loan and money given by the IFCI (Industrial Finance Corporation),” officials said.
Citing the investigation conducted by the ED, officials said that “a large amount of loan amount was transferred to various related institutions of EHDL, which were not involved in any real business.”
In another case, the Enforcement Directorate (ED) on Saturday filed an enforcement case report (ECIR) in the National Herald Money Laundering case against the complaint filed by BJP leader Subramanian Swamy and Congress leader Sonia Gandhi, Rahul Gandhi and others.
The court has set the hearing of the case for September 16 to be heard by the lawyers of the proposed accused, if any. Subsequently, the court will set a date for order on cognizance. After hearing the arguments of additional Solicitor General SV Raju in a closed room on Thursday, the court gave the ED time to file the document. The court has also sought some clarification from the ED. The case is pending for an order to issue summons on the prosecution complaint filed by the ED.
During the hearing, Additional Solicitor General (ASG) SV Raju appeared through video conferencing and said that ED is not against filing both these documents in court and providing the proposed accused. He demanded to file them through formal application.
