24 july 2026 : Punjab Khabarnama Bureau : The Enforcement Directorate (ED) has conducted searches at multiple locations in Punjab, Delhi and Uttar Pradesh as part of an investigation into an alleged ₹450-crore bank loan fraud, according to reports.
The raids are part of the agency’s ongoing probe into suspected financial irregularities and alleged diversion of bank funds.
Searches Conducted at Multiple Locations
ED officials reportedly carried out searches at premises linked to individuals and entities under investigation.
The operation covered locations across the three states as the agency examined financial records, business transactions and other documents connected with the alleged loan fraud.
Probe Into Alleged Bank Loan Irregularities
The investigation centres on allegations that bank loans worth approximately ₹450 crore were obtained through suspected irregularities.
Investigators are examining whether funds were diverted, misused or routed through entities and transactions that did not comply with the terms under which the loans were sanctioned.
Financial Records Under Scrutiny
During the searches, the agency is expected to examine documents and electronic records that could help establish the flow of funds.
Such investigations typically focus on loan sanction documents, company accounts, property transactions, bank records and links between borrowers and related entities.
ED’s Money-Laundering Angle
The Enforcement Directorate investigates suspected money laundering and proceeds of crime under the Prevention of Money Laundering Act (PMLA).
The agency’s action follows the broader investigation into the alleged bank loan fraud. The exact allegations and the role of individual suspects will become clearer as the probe progresses.
Investigation Continues
The searches are part of an ongoing investigation, and allegations against the individuals or entities involved have not been established in court.
The ED may conduct further questioning and examine additional financial records as it traces the alleged transactions and determines whether criminal proceedings are warranted.