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ED, Delhi has conducted search operations on 27.11.2024 at 15 locations in Delhi and NCR belonging erstwhile Kwality Limited and the then Promoters/ Directors Sanjay Dhingra, Siddhant Gupta, and other shell companies related to them

News Anti-Bribery & Corruption Sanctions & Fines
Date: 29th Nov, 2024 Source: Enforcement Directorate (ED) Country: India Original Source

Brief

"On "29/11/2024", the "Enforcement Directorate (ED)" issued an update regarding "ED, Delhi has conducted search operations on 27.11.2024 at 15 locations in Delhi and NCR belonging erstwhile Kwality Limited and the then Promoters/ Directors Sanjay Dhingra, Siddhant Gupta, and other shell companies related to them". The investigations initiated by ED revealed a modus operandi of falsifying books of accounts and cheating banks, with losses quantified at Rs. 1400.62 Crore, leading to recovery of cash, assets, and freezing of bank accounts.

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Enforcement Directorate (ED)

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