New Delhi, Nov. 28 -- The Enforcement Directorate (ED), Mumbai Zonal Office, on Friday stated that it recently conducted search operations at twelve residential and office premises in Pune. The searches targeted loan borrowers, car dealers, and a former branch manager of the State Bank of India (SBI) in connection with a vehicle loan fraud case at the bank's Pune branch.
The ED initiated its money laundering investigation based on FIRs registered by the CBI ACB, Pune, and the Shivajinagar Police Station, Pune, under various sections of the Indian Penal Code and the Prevention of Corruption Act.
The agency alleged that Amar Kulkarni, while serving as Chief Manager at the SBI University Road Branch in Pune between 2017 and 2019, abused his ...