ED raided Bhopal over a bank fraud case linked to Excel Vehicle Pvt. Ltd., seizing valuables.

The Enforcement Directorate (ED) conducted raids in Bhopal related to a bank fraud case involving Excel Vehicle Pvt. Ltd., which allegedly caused a loss of Rs 44 crore to Bank of India by diverting funds to its sister companies. The company secured a Rs 42 crore loan in 2014, later deemed a non-performing asset. During the raids, the ED seized diamond and gold jewelry worth Rs 85 lakh, Rs 25 lakh in cash, and various incriminating documents. Investigations are ongoing.

November 08, 2024
10 Articles