ED searches in Delhi, Haryana and Goa in ₹155.21 crore money laundering case

Authorities have conducted searches across multiple Indian states in connection with a significant money laundering case. The Enforcement Directorate (ED) carried out operations at 11 premises in Delhi, Haryana, and Goa on Tuesday.

The investigation centers on an alleged wrongful loss of ₹155.21 crore to the Oriental Bank of Commerce and other consortium banks. Officials stated that the ED's Chandigarh Zonal Office initiated the search operation. The premises are reportedly linked to Ashok Mittal, Sourabh Dhingra, Bharat Bhushan Mittal, Raman Singhal, and others associated with Mahesh Timber Pvt Ltd.

According to the ED, the accused are alleged to have fraudulently enhanced Foreign Letters of Credit (FLCs) through unauthorized SWIFT amendments. These actions allegedly bypassed proper entries in the Finacle banking system, leading to the substantial financial loss. The case stems from a First Information Report (FIR) filed by the Central Bureau of Investigation (CBI) against Mahesh Timber Pvt Ltd and its directors.

The ED stated that the raids were conducted in close coordination with local police, based on specific intelligence regarding the individuals accused in the case. The operation is part of ongoing efforts to combat financial crimes and recover illicitly gained funds.