New Delhi, Sep 2 (PTI) The Enforcement Directorate (ED) intensified its money laundering investigation on Tuesday, executing searches in both Delhi and Maharashtra amid allegations of a substantial bank loan fraud valued at Rs 425 crore, according to official sources. The probe targeted ten locations, with nine situated in Delhi and one in Pune, focusing on a corporation known as Gupta Exim India Private Ltd. (GEIPL). The ongoing ED investigation under the Prevention of Money Laundering Act (PMLA) has its roots in a CBI FIR lodged against the firm, its promoters, and directors. They stand accused of misappropriating loan funds provided by the Punjab National Bank (formerly e-OBC Bank), totaling approximately Rs 425 crore. Sources reveal that the accused company allegedly "diverted" these funds to various affiliated entities.
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