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Reputation: 642,681  •  Oct 17, 2023 5:01 AM
ED conducts raids against erstwhile Bhushan Steel Ltd. in Rs 56,000 cr bank loan 'fraud' case
ED conducts raids against erstwhile Bhushan Steel Ltd. in Rs 56,000 cr bank loan 'fraud' case
The Enforcement Directorate has conducted fresh searches against the promoters and entities of Bhushan Steel Limited as part of a money laundering probe linked to a bank fraud case. The agency alleged that the promoters and entities rotated funds through multiple companies for personal purposes, causing losses to State Bank of India and Punjab National Bank. During the searches, incriminating documents, digital records, cash, foreign currency, and luxury cars were seized.
The Economic Times

https://economictimes.indiatimes.com/news/india/ed-conduc...
#SBIN #PNB #TATASTEEL

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