Varanasi: The Enforcement Directorate (ED) on Friday raided 10 locations across Uttar Pradesh and seven other states linked to industrialist Dinanath Jhunjhunwala in connection with alleged money laundering in bank loan fraud case.
A team comprising over a dozen officers led by assistant director launched the raid at Jhunjhunwala's residence and his oil mill in Varanasi this morning. All documents at these two locations were thoroughly scrutinised for hours during the raid.
This apart, similar raids were held at nearly 10 locations linked to Jhunjhunwala across the country, including Uttarakhand, Haryana, Madhya Pradesh, Maharashtra, Punjab, Gujarat and Delhi.
Jhunjhunwala is a renowned oil businessman operating primarily in Uttar Pradesh and Bihar. His family's brand, 'Jhoola' is a popular edible oil brand in the market. He is a native of Bihar's Bhagalpur. Jhunjhunwala entered the edible oil business by setting up his own company, 'Jhunjhunwala Vanaspati Limited' on November 17, 1989.
According to sources, several important documents and laptops were seized during the raids. Jhunjhunwala has been accused of orchestrating a bank loan fraud amounting to a few crores of rupees.
On Thursday, similar raids were held in 35 locations across Delhi, Mumbai and Nagpur in connection with another money laundering probe linked to bank loan fraud case.
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