Twitter image of the Enforcement Directorate.
The Directorate of Enforcement (ED) on Tuesday (September 2, 2025) launched a search operation across 10 locations — nine in Delhi and one in Pune, Maharashtra — in connection with an alleged bank fraud case involving Gupta Exim India Private Ltd. (GEIPL).
The ED has recorded a case under the Prevention of Money Laundering Act (PMLA) based on an FIR registered by the Central Bureau of Investigation (CBI). As alleged, the company and its promoters and directors siphoned off the loan/funds extended by the Punjab National Bank (earlier e-OBC Bank) to the tune of about ₹425 crore.
The premises covered in the searches belong to the entities and persons closely associated with the promoters of GEIPL.
Huge amounts of loan funds were diverted to various related entities of Gupta Exim which was not engaged in any business or non-related business of GEIPL, as alleged by the agency.
Published – September 02, 2025 11:14 am IST
