NEW DELHI: The Enforcement Directorate (ED) on Tuesday conducted searches at ten locations across Delhi and Madhya Pradesh in connection with an alleged Rs 273 crore bank fraud case, officials said. The agency carried out searches at nine locations in Delhi and one in Bhopal, Madhya Pradesh. The premises targeted belong to entities and individuals closely associated with the company. ED recorded an Enforcement Case Information Report (ECIR) based on a Central Bureau of Investigation (CBI) FIR, which was registered following a complaint lodged by the bank. “The company and its promoters and directors siphoned off the loan and funds extended by IFCI (Industrial Finance Corporation of India) to the tune of approximately Rs 273 crores,” the officials said. Citing its investigation, the ED said, “a huge amount of the loan funds was diverted to various related entities of EHDL who were not engaged in any genuine business.” In a separate development, the ED on Saturday filed documents of a complaint lodged by BJP leader Subramaniam Swamy in 2014, along with the ECIR in the National Herald money laundering case against Congress leaders Sonia Gandhi, Rahul Gandhi and others. Special Judge Vishal Gogne asked the ED to supply copies of the documents to all the proposed accused. The matter has been listed for hearing on September 16 to consider submissions by the counsel for the proposed accused persons, if any. Thereafter, the court will set a date for the order on cognisance. The ED’s counsel confirmed this. On Thursday, the court had given time to the ED to file the documents after hearing submissions from ASG S V Raju in a closed court hearing. The court has also sought certain clarifications from the ED. This matter is pending for the order on summoning the prosecution complaint filed by the ED. During the hearing, Additional Solicitor General (ASG) S V Raju appeared through video conferencing and stated that the ED is not averse to filing these two documents before the court and providing the same to the proposed accused. He sought to file the documents through a formal application.(With agency inputs)
