Tue Sep 02 05:44:48 UTC 2025: Here’s a news article summarizing the information, written from a neutral perspective for “The Hindu”:
**News Article:**
**ED Raids 10 Locations in ₹425 Crore Bank Fraud Case**
**New Delhi, September 2, 2025:** The Enforcement Directorate (ED) conducted search operations at ten locations – nine in Delhi and one in Pune, Maharashtra – on Tuesday in connection with an alleged bank fraud case involving Gupta Exim India Private Ltd. (GEIPL).
The ED’s action is based on a First Information Report (FIR) filed by the Central Bureau of Investigation (CBI). The case is registered under the Prevention of Money Laundering Act (PMLA).
According to the allegations, GEIPL and its promoters and directors siphoned off approximately ₹425 crore in loans and funds extended by Punjab National Bank (formerly e-OBC Bank).
The premises searched belong to entities and individuals closely associated with the promoters of GEIPL. The ED alleges that significant loan funds were diverted to related entities, seemingly unrelated to GEIPL’s legitimate business operations. The investigation is ongoing.
First Piper 