Nagpur: The Enforcement Directorate (ED) has launched raids at approximately 35 locations in Delhi-NCR, Mumbai, and Nagpur today as part of a significant money laundering investigation linked to alleged bank loan fraud exceeding Rs 20,000 crore. Official sources report that the targets include the Amtek Group and its directors, such as Arvind Dham and Gautam Malhotra.
The searches encompass both business and residential premises across Delhi, Gurugram, Noida, Mumbai, and Nagpur, beginning early this morning.
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Thursday 06 Feb. 2025
The investigation stems from a CBI FIR filed against ACIL Limited, an entity of the Amtek Group, accused of orchestrating a massive bank fraud involving several listed companies. These companies were allegedly acquired through NCLT proceedings at nominal prices, resulting in minimal recovery for the consortium of banks involved, sources disclosed.
The involvement of the ED was prompted by directives from the Supreme Court, according to sources familiar with the matter.
