The Enforcement Directorate (ED) raided several places simultaneously in Delhi, Uttar Pradesh and Haryana on Thursday, causing a stir. This action was taken under the investigation of money laundering to alleged bank loan fraud of Rs 190 crore. According to sources, the focus of ED investigation is on the players involved in this case. ED raided at least ten places in Delhi, Ghaziabad, Noida and Panipat. All these places are to the directors, promoters, partners, auditors and other involved persons of the company. The ED is planning to bring all these under investigation.

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Serious allegations against the company making steel products

Shri Siddhaata Steel Private Limited produces cold and hot rolled steel products. However, now this company has got such a stigma of bank fraud, which will not be easy to erase.

Suspense remains on ED action

In this case, the promoters of the company have not been contacted immediately. What will be their reaction to this important action of ED, it remains to be seen. However, it is clear that there can be many important revelations in this case in the coming days.

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What is the whole matter?

This case is to allegations of fraud with Bank of Baroda (formerly Dena Bank) against Shri Siddhanta Ispat Private Limited and others. According to sources, raids have been conducted at at least 10 places in Delhi, Ghaziabad, Noida and Panipat. During this time, documents and electronic equipment to the company are being examined. The places where action are being taken are to the directors, promoters, partners, auditors and other alleged conspirators of the company, who are under investigation in the case of bank loan fraud of Rs 190 crore.