The Enforcement Directorate (ED) on Thursday raided about 35 premises in the National Capital Region – Delhi, Mumbai and Nagpur in connection with the investigation of a money laundering case against a company and its promoter. Giving this information, official sources said that the company and its promoter are accused of misappropriation of bank loans worth more than Rs 20,000 crore. According to the news of Bhasha, sources said that raids are being conducted against the MTech Group and its directors – Arvind Dham, Gautam Malhotra and others. ED has become very active in the scam case of such a huge amount. It is expected that soon ED will get a big success in this.
Investigation against ACIL Limited Company
According to the news, raids are being conducted on about 35 commercial and residential premises in Delhi, Gurugram, Noida, Mumbai and Nagpur since Thursday morning. He said that the ED is investigating money laundering in this case after the Central Bureau of Investigation (CBI) filed an FIR against MTech Group’s ACIL Limited company. In the CBI FIR, several listed companies are accused of defrauding bank loans worth more than Rs 20,000 crore.
Loss of ₹10,000-15,000 crore to the government exchequer
Sources said that the Supreme Court has also asked the Enforcement Directorate to investigate this matter. Sources said that according to the ED, this fraud has caused a loss of about Rs 10,000-15,000 crore to the government treasury. The ED believes that the loan amount taken from the bank was invested in real estate, foreign investments and new ventures. Sources said that to obtain more loans, fake sales, capital assets, liabilities and profits were shown in the group companies so that it does not get the tag of non-performing assets (NPA).
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