ED searches at three textile firms in Ahmedabad over ₹10.95 crore bank fraud case October 08, 2025

Ahmedabad: The Enforcement Directorate (ED) on Wednesday carried out searches at three locations in the city in connection with an alleged bank fraud of ₹10.95 crore, officials said.

According to preliminary details, the three Ahmedabad-based firms under the scanner are Shree Om Fab, Shree Baba Textile, and Shree Laxmi Fab. All these companies are owned by Ranjitkumar J. Loonia and are involved in grey cloth trading. It is alleged that the companies availed of cash credit facilities from the bank using forged documents. The sanctioned funds were reportedly diverted for purposes other than those mentioned in the loan applications.

The case stems from a First Information Report filed by the

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