The Enforcement Directorate (ED) conducted searches at 11 premises across Delhi, Haryana and Goa in connection with a ₹155.21 crore money laundering case. The case involves alleged wrongful loss to Oriental Bank of Commerce and consortium banks.
The ED's Chandigarh Zonal Office launched the search operation at premises allegedly linked with Ashok Mittal, Sourabh Dhingra, Bharat Bhushan Mittal, Raman Singhal and others in Haryana's Karnal, Delhi and Goa.
The case is based on a First Information Report (FIR) registered by the Central Bureau of Investigation (CBI) against Mahesh Timber Pvt Ltd, its directors and others for offences under the Indian Penal Code (IPC) and the Prevention of Corruption Act.
According to the ED, the accused fraudulently enhanced Foreign Letters of Credit (FLCs) through alleged unauthorised SWIFT amendments without corresponding entries in Finacle, causing an alleged wrongful loss of approximately ₹155.21 crore to Oriental Bank of Commerce and consortium banks.
