New Delhi, 30 October (H.S.): The Kolkata Zone-I office of the Enforcement Directorate (ED) has carried out search and seizure operations at eight locations across West Bengal in connection with an alleged bank fraud involving Rs. 280 crore and linked to Kohinoor Power Private Limited, banks and other entities.

The searches are being conducted under Section 17 of the Prevention of Money Laundering Act (PMLA), 2002.

According to the ED, the investigation is focused on the suspected utilisation of proceeds of crime through the alleged misuse of proceedings before the National Company Law Tribunal (NCLT). The agency is examining how funds allegedly generated through criminal activities were channelled or deployed during various proceedings before the tribunal.

The search operation covers both residential and official premises associated with individuals connected to the case, including company directors, auditors and a resolution professional.

The agency suspects that these individuals may have been involved in various transactions, procedures and activities linked to the alleged proceeds of crime. The searches are intended to gather evidence and establish the nature and extent of their suspected involvement in the financial irregularities.

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Hindusthan Samachar / Jun Sarkar