The Enforcement Directorate (ED) on Wednesday conducted searches at three premises in Gujarat’s Ahmedabad in connection with a Rs 10.95 crore bank fraud case, the officials said.

The agency’s Ahmedabad zonal office carried out the searches under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The case is based on a First Information Report (FIR) filed by the Central Bureau of Investigation (CBI) following a complaint from Oriental Bank of Commerce.

“Investigations have revealed that the three firms– Shree Om Fab, Shree Baba Textile and Shree Laxmi Fab–all proprietorship concerns of one Ranjitkumar J Loonia, engaged in the trading of grey cloth, availed cash credit facilities from the bank using forged documents. The accused allegedly diverted the sanctioned funds f

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