Archive · 29 Nov 2025
ED Raids Pune Premises in SBI Car Loan Fraud Case
The Enforcement Directorate (ED) raided 12 places in Pune to investigate a car loan fraud at the State Bank of India (SBI).
They found fake documents and seized expensive cars like BMW and Mercedes.
The fraud involved a former SBI manager and some borrowers who got big loans using fake papers.
The ED is looking into how they cheated the bank and will take action based on their findings.
ED raided 12 premises in Pune in connection with an SBI car loan fraud case.
Fraud involved high-value car loans obtained using forged documents.
Raids conducted under the Prevention of Money Laundering Act (PMLA), 2002.
Former SBI Chief Manager Amar Kulkarni and loan borrowers conspired to cheat the bank.
ED seized luxury vehicles, including BMW, Volvo, Mercedes, and Land Rover, purchased with fraudulent loans.
- Who
- Enforcement Directorate (ED), Mumbai Zonal Office
- What
- Raids on premises in Pune related to SBI car loan fraud case
- When
- November 25-26
- Where
- Pune, Maharashtra
- Why
- To investigate and seize incriminating documents and luxury vehicles related to fraudulent car loans
- Agency Involved
- Enforcement Directorate (ED)
- Location of Raids
- Pune
- Number of Premises Searched
- 12
- Date of Raids
- November 25-26
- Act Under Which Raids Conducted
- Prevention of Money Laundering Act (PMLA), 2002
- Alleged Fraud Amount
- High-value car loans
- Involved SBI Official
- Amar Kulkarni, former Chief Manager
- Vehicles Seized
- BMW, Volvo, Mercedes, Land Rover
