As per reports, the Enforcement Directorate (ED) on Thursday (27 June) froze shares and securities of Mandhana Industries Limited (Mumbai-Based Group) and others in a case of bank fraud. The ED’s Mumbai Zonal Office conducted search operations at 12 locations across the city.
The money laundering case stems from a Central Bureau of Investigation (CBI) FIR filed against the company, its directors and others based on a complaint filed by the Bank of Baroda for allegedly defrauding a consortium of banks to the tune of INR 975.08 crore.
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