The Enforcement Directorate (ED) logo.
Credit: PTI File Photo
New Delhi: The Enforcement Directorate on Thursday conducted searches in Delhi, Uttar Pradesh and Haryana as part of a money laundering investigation linked to an alleged bank loan fraud of Rs 190 crore, official sources said.
The case pertains to Shri Sidhdata Ispat Private Limited and others in which Bank of Baroda (former Dena Bank) is claimed to have been defrauded, they said.
At least ten locations in Delhi, Ghaziabad and Noida in Uttar Pradesh and Panipat in Haryana are being searched.
These locations are linked to the directors, promoters, partners, auditors, and other conspirators associated with the company which is being investigated in a Rs 190 crore worth alleged bank loan fraud case, they said.
The company manufacturers cold and hold rolled steel products. The promoters could not be contacted immediately for a comment on the ED action against them.