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ED Raids 16 Locations in Kolkata, Bengaluru, Delhi Over Multi-Crore Money Laundering Case.
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News18•23-09-2026, 16:21
ED Raids 16 Locations in Kolkata, Bengaluru, Delhi Over Multi-Crore Money Laundering Case.
- •The Enforcement Directorate (ED) conducted simultaneous raids and search operations at 16 locations in Kolkata, Delhi, and Bengaluru.
- •The action is linked to a multi-crore money laundering case involving alleged financial irregularities, FEMA violations, and corporate acquisition.
- •ED officials searched two locations in Kolkata, including homes of directors of two corporate companies in Ballygunge and New Alipore.
- •The investigation focuses on alleged violations of FEMA and irregularities in funds used to gain control of McNally Bharat Engineering Company Limited (MBECL).
- •The agency is also probing attempts by individuals ineligible under Section 29A of the IBC, 2016, to regain indirect control of the company.
Key Questions Answered
The Enforcement Directorate conducted simultaneous raids at 16 locations as part of a multi-crore money laundering and foreign exchange violation case involving the acquisition of McNally Bharat Engineering Company Limited.
The investigation centers around McNally Bharat Engineering Company Limited and examines the funds used to gain control of the company, alongside potential violations of foreign exchange rules.
Investigators are examining whether the insolvency resolution process was improperly utilized to allow individuals who might be ineligible under Section 29A of the Insolvency and Bankruptcy Code, 2016, to indirectly regain control of the company.
