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The Directorate for enforcement on Wednesday has been searching in three places in Ahmedabad in Gujarat in connection with the Bank Fraud Fraud Fraud 10.95 GBP, the officials said.
Operations were carried out by the AHMEDABAD ZON Agency under the provisions of the 2002 Money Wash Act.
The sources said the investigation revealed that three companies – Shree OM Fab, Shree Baba Textile and Shree Laxmi Fab, all ownership ownership owned by Ranjitkumar J. Loonia and involved in trading in gray substances – used by counterfeit documents. The sanctioned funds were reportedly diverted for purposes other than the loan applications.
The agency established crime proceeds in the case of approximately 10.95 GBP Crore.
Published – 8 October 2025 22:09
