Archive · 31 Oct 2025
ED Files Chargesheet in Amrit Feeds Bank Fraud Case, Attaches Property
Imagine a company named Amrit Feeds took a lot of money as loans from several banks to run its business.
But instead of using the money for the company, the people in charge, including the boss Harish Bagla, allegedly took the money and hid it.
They used fake companies to move the money around and then spent it on other businesses, bought property, or used it for themselves.
Because they didn't use the loan money correctly and didn't pay it back, the banks lost a lot of money.
Now, a special agency called the ED has filed charges against the company and its boss.
They have also taken away property worth a lot of money that belonged to the accused to try and get some of the lost money back.
The investigation is still going on to find out everything that happened.
The ED has filed a charge sheet against Amrit Feeds Ltd., its promoter Harish Bagla, and others in a bank fraud case.
Immovable property valued at Rs 10.44 crore belonging to the accused has been attached by the ED.
Amrit Feeds Ltd. allegedly siphoned off Rs 144.68 crore in loan funds from banks including Axis Bank, PNB, Bank of India, and HDFC Bank.
The ED investigation revealed that loan funds were laundered through shell entities and used for investments, property purchases, and personal use.
The main promoter, Harish Bagla, was arrested on August 26, 2025, and is currently in judicial custody.
- Who
- The Enforcement Directorate (ED) has filed a charge sheet against Amrit Feeds Ltd. (AFL), its promoter Harish Bagla, and others.
- What
- Filing of a charge sheet and attachment of property in a bank fraud case involving siphoning off and laundering of bank loan funds.
- When
- The charge sheet was filed on Friday. Loans defaulted during the financial year 2015-16. Searches were conducted on August 26, September 3, and September 4, 2025.
- Where
- Kolkata Zonal Office of the ED.
- Why
- Allegations of siphoning off bank loan funds obtained from multiple banks, laundering the money through shell entities, and diverting it for investments and personal use, leading to loans turning into non-performing assets.
- Agency
- Enforcement Directorate (ED)
- Company Involved
- Amrit Feeds Ltd. (AFL)
- Promoter
- Harish Bagla
- Total Defaulted Amount
- Rs 144.68 crore
- Attached Property Value
- Rs 10.44 crore
- Banks Involved
- Axis Bank, PNB, Bank of India, HDFC Bank