11 hrs ago
ED Searches 12 Locations in Tayal Group Money-Laundering Probe
The Enforcement Directorate is investigating companies linked to the Tayal Group.
It says the companies may have obtained bank money improperly and moved it through other companies.
On September 30, officials searched 12 places in Mumbai and Ahmedabad.
The agency said it found Rs 20 lakh in cash and documents about properties and bank accounts.
It also said it froze 215 accounts.
The ED alleges that some companies were used as fake creditors during insolvency proceedings.
It says those steps may have made it harder to recover assets linked to the alleged bank fraud.
These are allegations made by the agency as part of its investigation.
The Enforcement Directorate searched 12 premises in Mumbai and Ahmedabad on September 30.
The probe concerns alleged bank fraud, money laundering and misuse of insolvency proceedings by entities linked to the Tayal Group.
The agency said it seized Rs 20 lakh in cash, identified property documents and froze 215 bank accounts.
The ED estimates alleged proceeds of crime in the cases at around Rs 820.86 crore.
The agency alleges shell companies and insolvency claims were used to conceal funds and frustrate asset-attachment proceedings.
- Who
- The Enforcement Directorate is investigating Tayal Group promoters Pravin Tayal and Saurabh Tayal, among others.
- What
- The agency searched 12 premises and is investigating alleged bank fraud, money laundering and misuse of insolvency proceedings.
- Where
- Mumbai and Ahmedabad, India.
- When
- The searches were conducted on September 30; the report is dated October 7, 2026.
- Why
- The ED alleges that bank funds were diverted through shell companies and that insolvency proceedings were used to protect assets attached under the PMLA.
Key facts
- Searches
- 12 premises in Mumbai and Ahmedabad
- Search date
- September 30, 2026
- Cash seized
- Rs 20 lakh, from Pravin Tayal's residence
- Accounts frozen
- 215 accounts under Section 17(1A) of the PMLA
- Estimated alleged proceeds
- Around Rs 820.86 crore
- Companies named in the investigation
- K Lifestyle & Industries Ltd, Actif Corporation Ltd and Jaybharat Textiles & Real Estate Ltd
- Property identified
- Empress Mall in Nagpur, provisionally attached and valued at around Rs 483 crore in 2019
Sources
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