ED searches 35 Amtek premises in bank fraud case worth over Rs 20,000 crore

The Enforcement Directorate on Thursday carried out searches on Amtek Group at more than 35 premises in Delhi, Gurgaon, Noida, Mumbai, and Nagpur in connection with a bank fraud case of more than ₹20,000 crore, people aware of the development said.

ED launched a probe on the basis of a First Information Report (FIR) registered against one of the group entities, ACIL Ltd, on the directions of the Supreme Court that had ordered a probe into the alleged fraud.

It is further alleged that listed companies' shares were rigged, assets worth thousands of crores have been parked in shell companies' names, and a number of foreign assets have been created.