New Delhi, Sept. 9 -- The Enforcement Directorate (ED) on Tuesday conducted a search operation at ten locations across Delhi and Madhya Pradesh in connection with an alleged Rs 273 crore bank fraud case, officials said.

The agency carried out the searches at nine places in Delhi and one in Madhya Pradesh's Bhopal. The premises covered in the search action belong to the entities and persons closely associated with the company.

ED recorded an Enforcement Case Information Report (ECIR) on the basis of the Central Bureau of Investigation (CBI) FIR, which was registered on the grounds of a complaint made by the bank.

"The company and its promoters and directors siphoned off the loan and funds extended by IFCI (Industrial Finance Corporation...