Archive · 26 May 2025
ED Raids Maharashtra Sugar Factory in Bank Fraud Case
The Enforcement Directorate (ED) is investigating a large financial fraud case.
They searched several places in Maharashtra, looking into a company called KGS Sugar that allegedly misused money.
The company is suspected of getting a big loan from the bank and then using the money improperly.
The ED found cash, gold, and other assets.
The investigation began after the police filed a report alleging financial crimes, and the ED is working to determine how the money was misused.
ED conducted raids at multiple locations in Maharashtra.
The raids were part of a Rs 350-crore bank fraud investigation.
KGS Sugar and Infra Corporation Ltd. and its directors are under investigation.
Assets including cash, gold, and a luxury car were seized.
The investigation is based on an FIR filed by Jalna Police.
- Who
- Enforcement Directorate (ED)
- What
- Searches related to a Rs 350-crore bank fraud investigation
- When
- May 23
- Where
- Nashik, Kopargaon (Shirdi), and Thane
- Why
- Investigation into a Rs 350-crore bank fraud involving KGS Sugar and Infra Corporation Ltd.
- Investigation Amount
- Rs 350 crore
- Locations Searched
- Nashik, Kopargaon (Shirdi), Thane
- Cash Seized
- Rs 70.39 lakh
- Gold Jewellery Seized
- Rs 1.36 crore
- Company Involved
- KGS Sugar and Infra Corporation Ltd.
- Director Involved
- Dinkar S. Bodke
