Archive · 2 Oct 2026
ED Files ₹66 Crore Fraud Complaint Against Ruchi Global
The Enforcement Directorate has taken a bank-fraud case involving Ruchi Global to court.
It says the company and other accused allegedly used false documents to obtain credit from banks.
The credit came through Letters of Credit worth about ₹66 crore.
The documents were supposedly used for purchases of agro-commodities.
Investigators allege that the money moved through several companies and then returned to Ruchi Global’s accounts.
The company allegedly did not repay the banks when the payments were due.
The ED says this caused losses for the banks.
The court has sent notices to the accused, and the investigation is continuing.
The Enforcement Directorate filed a prosecution complaint against 21 accused persons and entities before the Special PMLA Court in Indore.
The case involves alleged bank fraud of approximately ₹66 crore by Ruchi Global Limited, now known as Agrotrade Enterprises Limited.
The company allegedly obtained Letters of Credit for agro-commodity purchases using forged bills of exchange and fake lorry receipts.
Investigators allege that the proceeds were routed through shell and layering entities before returning to the company’s accounts within one to three days.
The ED seized ₹23.50 lakh in alleged unaccounted cash, froze bank accounts and attached immovable property valued at ₹5.13 crore.
- Who
- The Enforcement Directorate filed the complaint against 21 accused persons and entities, including Ruchi Global Limited, now known as Agrotrade Enterprises Limited.
- What
- A prosecution complaint was filed in an alleged ₹66 crore bank-fraud and money-laundering case.
- When
- The complaint was filed on Thursday. The second report dates the ED searches to December 23, 2025, and the property attachment order to February 18, 2026; the first report describes these dates as last year and this year.
- Where
- The complaint was filed before the Special Court under the Prevention of Money Laundering Act in Indore, Madhya Pradesh. The related FIR was registered by the Central Bureau of Investigation in Bhopal.
- Why
- The ED alleges that Letters of Credit were obtained using fabricated documents, causing wrongful losses to a consortium of banks.
- Alleged fraud amount
- Approximately ₹66 crore
- Accused
- 21 persons and entities
- Company
- Ruchi Global Limited, now known as Agrotrade Enterprises Limited
- Banks involved
- Punjab National Bank, Bank of Baroda and Jammu and Kashmir Bank
- Alleged method
- Letters of Credit supported by forged bills of exchange and fake lorry receipts
- Cash seized
- ₹23.50 lakh
- Property attached
- Immovable property valued at ₹5.13 crore
- Case status
- The court issued notices for a pre-cognisance hearing, and further investigation is in progress
