Kolkata: Enforcement Directorate (ED) on Monday carried out searches at several locations in Kolkata, including Posta and Burrabazar area, in connection with a bank fraud case. The central agency also conducted raids on multiple locations in Odisha.According to an ED officer, searches were being carried out at nine locations in connection to a bank fraud, worth more than Rs 1,000 crore.The case relates to allegations of financial irregularities involving a Bhubaneswar-based company, which had reportedly taken loans amounting to Rs 1,109 crore from a number of banks. The agency suspects the funds were subsequently misappropriated. There are also allegations that the money was transferred from Odisha to Kolkata through various channels. The ED officer said the searches at CBD on Monday aimed at tracing the route through which the allegedly diverted funds were transferred and identifying the channels used to move the money.The CBI had initially begun probing the case, and ED took over the investigation.
