ED Raids in Two Loan Fraud Cases Exceeding ₹1,000 Crore

The Enforcement Directorate (ED) is investigating two cases of alleged bank loan fraud.

They conducted raids in multiple locations across Tamil Nadu, West Bengal, Goa, Delhi, and Pune.

The first case involves Arvind Remedies Ltd.

and a ₹637-crore fraud.

The second case involves Gupta Exim India Pvt.

Ltd., with an alleged fraud of ₹425 crore.

The ED believes funds were moved through shell companies and multiple accounts to hide the fraud.

These investigations are part of a larger effort to combat financial crimes and banking sector frauds.