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The Enforcement Directorate (ED) has raided the residence of businessman Deepak Jain in Howrah’s Shibpur area as part of its investigation into a 6000 crore bank fraud case. Jain is allegedly linked to a financial scam involving a steel company, where he is suspected of facilitating fraudulent transactions using multiple companies’ names to siphon off funds. The ED’s investigation focuses on the financial dealings that led to the massive fraud, which spans several entities and affects numerous banks.
This raid is part of an ongoing probe that began with the December search at the home of businessman Sanjay Surekha, also associated with the steel industry. During the December raid, the ED seized 2 crore rupees in cash and two luxury vehicles. Surekha was arrested in connection with financial fraud charges. Investigators are currently piecing together the intricate web of financial transactions that allegedly resulted in the 6000 crore fraud.
The ED has widened its probe to Behala, where a simultaneous raid is being carried out at another property linked to the same case. The ongoing operations reflect the ED’s effort to uncover the full scope of the fraudulent activities tied to the steel company, and to trace the financial transactions that led to the defrauding of multiple banks. Authorities are examining records, transactions, and company structures as they continue their search for further evidence in this significant investigation.