India News | ED Arrests Kolkata Industrialist in Jharkhand Bank Fraud Case

Kolkata, Dec 18 (PTI) The Enforcement Directorate (ED) on Wednesday arrested industrialist and owner of Concast Steel and Power Limited, Sanjay Sureka, in connection with a bank fraud case in neighbouring Jharkhand, an official said.

Jewellery worth Rs 4.5 crore and several foreign-made luxury cars were seized during raids at properties linked to him.

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The ED on Tuesday and Wednesday conducted raids at over 10 locations in West Bengal, including his residence in south Kolkata's Ballygunge, under the provisions of PMLA, 2002, he said.

"The industrialist will be questioned in connection with the bank fraud. We are trying to ascertain how many people are behind this or if there are some influential people involved in this case," the official told PTI.

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An insider in the central probe agency said that there was evidence that a huge amount of money was shifted through shell companies.

The case was registered in 2022 after the arrested industrialist had allegedly duped a nationalised bank in Jharkhand, ED sources said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)