New Delhi, Sept. 10 -- The Enforcement Directorate's (ED) Gurugram zone on Wednesday conducted a search and survey in connection with the Rs.350 crore Hythro Power Corporation Ltd (HPCL) bank fraud case. The action covered five premises in Delhi NCR, three in Chennai and one in Bengaluru.

According to the ED, the case stems from an FIR (No RC0742025E001), registered by the Central Bureau of Investigation (CBI), Delhi on February 4, 2025, against HPCL and its promoters under sections 120-B & 420 of IPC, 1860, sections 13(2) read with 13(1)(d) of the PC Act, 1988.

The accused - HPCL and its directors Amul Gabrani and Ajay Kumar Bishnoi - are alleged to have siphoned off and diverted funds to their related entities and related entities of ...