Wed Jun 25 09:42:25 UTC 2025: Here’s a summary of the text and a news article based on it:

**Summary:**

The Enforcement Directorate (ED) conducted searches at multiple locations in Delhi-NCR and Punjab on June 25, 2025, as part of a money laundering investigation. The investigation is tied to an alleged ₹988 crore bank loan fraud involving Shilpi Cables Technologies Ltd. (SCTL) and its promoters. The searches were conducted under the Prevention of Money Laundering Act (PMLA) following a CBI FIR. The ED suspects that funds obtained through fraudulent means were transferred abroad, with the role of SCTL’s managing director under scrutiny.

**News Article:**

**ED Raids Multiple Locations in ₹988 Crore Bank Loan Fraud Probe**

**New Delhi, June 25, 2025** – The Enforcement Directorate (ED) conducted searches at ten premises across Delhi-NCR and Jalandhar, Punjab, today in connection with an alleged ₹988 crore bank loan fraud case involving Shilpi Cables Technologies Ltd. (SCTL).

The raids were carried out under the Prevention of Money Laundering Act (PMLA), following a First Information Report (FIR) filed by the Central Bureau of Investigation (CBI). The CBI alleged that the promoters of SCTL and their associates defrauded a consortium of banks, led by IDBI Bank, of ₹988 crore.

“The action is being undertaken against the promoters of Shilpi Cables Technologies Ltd. (SCTL), and some linked entities,” a source within the ED confirmed.

The ED suspects that a significant portion of the loan availed from the banks, using Letters of Credit (LCs), was illicitly transferred abroad through fictitious transactions. The agency is currently scrutinizing the role of Manish Goel, the Managing Director of SCTL, in the alleged money laundering scheme.

The investigation is ongoing.

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