The Enforcement Directorate conducted coordinated searches across Odisha, Delhi, Uttarakhand and Punjab Monday, seizing incriminating documents during an investigation into a Rs 73 crore bank loan fraud involving a private company.

During the search operations by ED’s Bhubaneswar zonal unit, various incriminating documents and documents related to property worth several crores of rupees were recovered and seized in the case against SR Alcobev Private Limited and others, the official said in a statement.

The search operations October 29 were conducted under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.

S R Alcobev Private Limited and others allegedly duped the Punjab National Bank and Indian Bank (erstwhile Allahabad Bank) of Rs 73 crore after seeking a bank loan

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