New Delhi, Sept. 9 -- The Enforcement Directorate (ED) is conducting raids at ten locations in Delhi and Bhopal in connection with a Prevention of Money Laundering Act (PMLA) case related to an alleged bank fraud of Rs 273 crore.
The raids are targeting the premises of Era Housing and Developers India Private Ltd. (EHDL) and its associates, an ED source said.
The investigation stems from a CBI FIR filed on a complaint from IFCI Bank. The agency alleges that EHDL, along with its promoters and directors, misappropriated and siphoned off loans amounting to approximately Rs 273 crore.
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