Kolkata, Sep 3 (PTI) The Enforcement Directorate on Thursday carried out searches at multiple locations in Kolkata as part of a money laundering investigation linked to an alleged Rs 290 crore bank loan fraud, officials said.
The probe is against Kohinoor Power, which is stated to have availed loans from banks to set up a 66 MW power plant in Jharkhand, but the loans were “siphoned off” to other group entities and for personal use, the officials alleged.
They said the company went to the National Company Law Tribunal (NCLT) and only Rs 7 crore could be recovered in liquidation, resulting in losses to the creditors.
Eleven premises in Kolkata have been searched under the Prevention of Money Laundering Act (PMLA). They belong to the promoters of the group, Prashant Bothra and Vijay Bothra, along with other directors and auditors, the officials said. PTI NES ARI
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