The Enforcement Directorate (ED) wing of Bhubaneswar on Tuesday informed that it has carried out extensive multi-state search operations in connection with an alleged Rs 73 crore bank loan fraud involving S R Alcobev Private Limited, a company accused of defrauding Punjab National Bank (PNB) and Indian Bank.

According to official information shared by the ED’s Bhubaneswar Zonal Office, the coordinated raids were conducted on October 29, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.

The operations spanned Odisha, Delhi, Uttarakhand, and Punjab, targeting premises linked to the accused company and its associates.

During the searches, incriminating documents, financial records, and papers related to properties worth several crores of rupees were recovered and

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