New Delhi, Oct. 14 -- The Enforcement Directorate (ED) carried out search operations on Tuesday in Delhi, Hyderabad, Jaipur, and Mumbai in connection with a Rs 70 crore bank fraud case, officials said.

The raids are underway, and the premises covered in the search action belong to entities and individuals closely associated with a specific individual. The ED registered an Enforcement Case Information Report (ECIR) based on the Central Bureau of Investigation's (CBI) First Information Report (FIR), which was registered on the grounds of a complaint made by Punjab and Sind Bank.

"One individual and his family members, through entities owned and controlled by them, siphoned off the loan and funds extended by the Punjab and Sindh Bank to th...