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ED, Mumbai has conducted search operations at 9 different locations across Mumbai and Aurangabad under the provisions of the PMLA, 2002 on 17.12.2024 in a money laundering case involving bank fraud against M/s Spectra Industries Limited (SIL) and others

News Anti-Bribery & Corruption Sanctions & Fines
Date: 18th Dec, 2024 Source: Enforcement Directorate (ED) Country: India Original Source

Brief

"On "18/12/2024", the "Enforcement Directorate (ED)" issued an update regarding "ED, Mumbai has conducted search operations at 9 different locations across Mumbai and Aurangabad under the provisions of the PMLA, 2002 on 17.12.2024 in a money laundering case involving bank fraud against M/s Spectra Industries Limited (SIL) and others". The searches led to the freezing of assets worth Rs. 8 Crore, including bank balances, fixed deposits, and equity shares. An investigation was initiated based on a CBI FIR for defrauding banks to the tune of Rs 27.6 Crore."

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Enforcement Directorate (ED)

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