ED conducts raids in UP, Delhi and Punjab in Rs 450-crore bank loan 'fraud'

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....D conducts raids in UP, Delhi and Punjab in Rs 450-crore bank loan 'fraud'<BR>PMLA / Black Money<BR>Dated:- 24-7-2026<BR>PTI<BR>Lucknow, Jul 24 (PTI) The Enforcement Directorate on Friday conducted ra....

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....ids in Uttar Pradesh, Delhi and Punjab as part of a money laundering investigation into a Rs 450-crore bank loan fraud case, officials said. They said the Lucknow zonal office of the central agency....

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.... raided eight premises in the national capital and the two states as part of the probe against a company identified as Santosh Overseas Ltd., its promoters and linked entities. The action was condu....

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....cted under the Prevention of Money Laundering Act (PMLA). The ED probe stems from a Central Bureau of Investigation (CBI) case relating to an alleged fraud involving a Rs 450 crore loan availed from a....

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.... consortium of banks, the officials said. It is alleged by the ED that the loan funds were diverted and layered through a network of shell entities, accommodation entry operators (hawala dealers) a....

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....nd related companies by way of fake invoices and circular financial transactions. PTI NES DIV DIV =============<BR> News - Press release - PIB....