The Enforcement Directorate (ED) conducted searches at over 35 locations in Delhi-NCR, Mumbai, and Nagpur as part of a money laundering investigation against the Amtek Group and its promoters. The probe is linked to an alleged bank loan fraud exceeding ₹20,000 crore, involving the group’s entity ACIL Limited. The ED suspects that loan funds were misappropriated for investments in real estate, foreign ventures, and new businesses, while manipulating financial records to secure additional loans and avoid being classified as non-performing assets (NPAs).
