Directorate for enforcement of law (ED) performed on Wednesday searches in several places across Dilli-NCR and Pandjab within the Sundy of Money Launch-related probe £988 CRORE Bank Loan Fraud, official sources were stated by PTI.
“The action is carried out against the company’s promoters, Shilpi Cables Technologies LTD (SCTL) and some connected entities. Nine premises in Delhi-NCR and one in Jalandhar was part of the search in the Money Wash Act (PMLA),” he said.
The case of money laundering stems from the CBI fir that cheats the cheating of the banks of banks led by IDBi by bank on the melody £988 crore promoters SCTL and their collaborators, they said.
ED suspects that a large part of the money (loan) used from banks using LSC (Letters Credit) was transferred abroad through “false” transactions. The role of Manish Goel is under the agency scanner according to sources.
(This is an evolving story)
(Tagstotranslate) Investigation of money washing
