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ED Raids 7 Locations in Jharkhand, Odisha in Co-operative Bank Scam Probe
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Moneycontrol•23-09-2026, 10:11
ED Raids 7 Locations in Jharkhand, Odisha in Co-operative Bank Scam Probe
- •The Enforcement Directorate (ED), Ranchi, is conducting search and seizure operations at seven locations across Jharkhand and Odisha.
- •The raids are part of a money laundering investigation linked to an alleged scam involving the Jharkhand State Co-operative Bank (JSCB).
- •Searches are being carried out under Section 17 of the Prevention of Money Laundering Act (PMLA).
- •The probe focuses on a large-scale fraud against JSCB’s Seraikela branch, with businessman Sanjay Kumar Dalmia suspected of involvement.
- •The ED is examining financial transactions and the flow of funds to identify beneficiaries of the alleged fraud.
Key Questions Answered
The Enforcement Directorate is conducting search operations across seven locations in Jharkhand and Odisha as part of a money laundering investigation into an alleged large-scale fraud at the Jharkhand State Co-operative Bank's Seraikela branch.
The ongoing search and seizure operations by the Enforcement Directorate are being carried out under Section 17 of the Prevention of Money Laundering Act.
The investigation has uncovered the alleged involvement of businessman Sanjay Kumar Dalmia, who is suspected of acting in connivance with former officials of the bank to perpetrate the fraud.
