Bhubaneswar: The Enforcement Directorate (ED) has seized over a dozen luxury vehicles, including a Porsche, a Mercedes, a Mini Cooper and a BMW, following searches against an Odisha-based businessman and his companies in a money laundering case linked to Rs 1,396 crore alleged bank fraud.
The raids were conducted Saturday on the premises of Anmol Mines Pvt Ltd (AMPL) and Anmol Resources Pvt Ltd (ARPL), and their managing director (MD), Shakti Ranjan Dash, in Bhubaneswar.
The action followed the alleged bank loan fraud case against a Himachal Pradesh-based fi rm Indian Technomac Company Ltd (ITCOL).
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The money laundering case stems from an FIR of Himachal Police CID against ITCOL and its promoters, alleging that its directors, in connivance with staff of various companies and CAs, siphoned off loans availed from a consortium of banks.
PNN