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ED raids the house of Congress MLA Rao Dan Singh in Haryana, case is related to a bank scam of Rs 1392 crore

Raids have been conducted by the Enforcement Directorate in 15 locations across 5 cities, including Delhi, Gurugram, Mahendragarh, Bahadurgarh, and Jamshedpur, regarding the Rs 1392 crore bank scam. Rao Dan Singh, the Mahendragarh Congress MLA, his family, and other people are the targets of this raid.

Through it, M/s Allied Strips Limited Company—affiliated with MLA Rao Dan Singh and his family—took out a Rs. 1392 crore loan that was never repaid. In this case, the CBI had filed a complaint against the business and, among other people, its promoters, Mohinder and Gaurav Agarwal. Afterward, the ED opened an inquiry and filed a second FIR in this case under the PMLA.

Enforcement Directorate conducting search at Congress MLA from Mahendergadh (Haryana), Rao Dan Singh and his associates. Searches are underway around one dozen places including Gurugram, Bahadurgarh and Delhi. According to sources search is linked to an alleged bank loan fraud…
— ANI (@ANI) July 18, 2024

Let us inform you that the ED team arrived early in the morning to carry out a raid at the home of Mahendragarh MLA Rao Dan Singh. Security guards were also observed accompanying the ED team during this time.

Allow us to inform you that Bhupendra Singh Hooda is thought to be close to Rao Dan Singh. Let us inform you that Rao Dan Singh, a resident of Bhiwani, was handed a ticket by the Congress party for the Lok Sabha elections.

ED raids several places in Jammu and Kashmir in Rs 223 crore cooperative bank fraud case

Jammu and Kashmir: In the context of its investigation into the over Rs 223 crore scam at the Jammu and Kashmir Cooperative Bank, the Enforcement Directorate raided multiple places in the state of Jammu and Kashmir.

This fraud was carried out using the purportedly fake River Jhelum Cooperative House Building Society name.

The report also states that the ED is conducting raids on the former bank chairman’s premises. The fraudulent act was carried out under the guise of the River Jhelum Cooperative Housing Building Association, a fictitious residential association.

Under Section 17 of the Prevention of Money Laundering Act (PMLA), raids were carried out by the ED’s Srinagar office.

The #EnforcementDirectorate carried out searches at several locations in #JammuAndKashmir in connection with its probe into the Jammu and Kashmir Cooperative Bank fraud of more than Rs 223 crore.

The fraud was done in the name of an alleged non existent society — River Jhelum… pic.twitter.com/gnoVzIceJp
— IANS (@ians_india) November 30, 2023

DHFL Bank Fraud: The country’s biggest bank scam came to the fore, such a huge amount was taken from 17 banks

DHFL Bank Fraud: You must have heard about many scams until now but recently the biggest banking scam in the country’s history has come to the fore. Talking about the price, this figure is so big, that maybe not everyone can even write this amount in numbers. The scam figure is 34,615 crores. This amount has been taken from 17 banks.

How the biggest scam in history came to the fore

In fact, such a big scam was exposed at the time when the Union Bank of India gave a complaint to the CBI on 11 February. After receiving the Union Bank complaint, the CBI registered a case and immediately took strict action, searching about a dozen places of scam accused along with more than 50 officers.

Who did the 34,615 crore scam?

A case has been registered against some realty sector companies including Kapil Wadhawan, former chairman of Dewan Housing Finance Limited (DHFL), and director Dheeraj Wadhawan, on charges of this scam. Union Bank alleges that DHFL took loans worth Rs 42,817 crore from 17 banks between 2010 and 2018 and the loan repayment stopped in 2019. This loan was taken for different purposes.

CBI books Kapil and Dheeraj Wadhawan of DHFL in Rs 34,615-crore bank fraud case: Officials
— Press Trust of India (@PTI_News) June 22, 2022

According to news, CBI officers said that action was taken on the complaint received from Union Bank of India on February 11 this year and the agency has searched 12 locations linked to the accused. DHFL promoters Kapal Wadhawan and Dheeraj Wadhawan are already in jail.