ED Seizes ₹12.20 Crore Jewellery, Cash In Alleged ₹160.55-Crore Bilpower Loan Fraud Probe
Mumbai, August 27, 2026: The Enforcement Directorate (ED) on Tuesday conducted searches at seven residential and business premises and three bank lockers in Mumbai and Vadodara in connection with a money-laundering probe into an alleged Rs 160.55-crore loan fraud involving Bilpower Limited, the central agency said on Thursday. Searches At Promoters' Premises The searches were conducted at…
The Enforcement Directorate (ED) conducted searches on Tuesday at seven residential and business premises, as well as three bank lockers in Mumbai and Vadodara, in connection with a money-laundering probe into an alleged Rs 160.55-crore loan fraud involving Bilpower Limited. During the operation, the agency seized cash worth around Rs 43.90 lakh and jewellery valued at approximately Rs 12.20 crore.
The ED's investigation stems from an FIR registered by the CBI’s Economic Offences-I unit in Delhi on the basis of a complaint filed by the State Bank of India (SBI), alleging that Bilpower had fraudulently diverted loan proceeds and manipulated its books of accounts, causing a loss of Rs 160.55 crore to the bank.
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