ED, Kolkata has conducted search operations against M/s. Shri Shyam Bearing Pvt. Ltd. and others in connection with money laundering allegations in a bank fraud case. The said entity and the connected persons had wrongfully caused loss of Rs.12.08 Crore to SBI. During the search operations, various incriminating documents, Cash amounting to Rs. 10.10 Lakh and Gold jewellery weighing 2.752 Kg valued at Rs.2.57 Crore were seized

"On 19/06/2025, the Directorate of Enforcement (ED), Kolkata Zonal Office has conducted a search operation in the matter of M/s. Shri Shyam Bearing Ltd. in a bank fraud case under the provisions of Prevention of Money Laundering Act (PMLA), 2002. The said entity and connected persons had wrongfully caused loss of Rs.12.08 Crore to SBI. The ED investigation has revealed that M/s. Shri Shyam Bearing Pvt. Ltd. siphoned off the loan money through various shell entities, and during the search, incriminating documents, Cash amounting to Rs. 10.10 Lakh, and Gold jewellery weighing 2.752 Kg valued at Rs.2.57 Crore were seized."