Wed Oct 08 16:39:35 UTC 2025: Okay, here’s a summary and news article based on the provided text:

**Summary:**

The Indian Enforcement Directorate (ED) conducted raids at three locations in Ahmedabad, Gujarat, on Wednesday, October 8, 2025, concerning a ₹10.95 crore bank fraud case. The case stems from an FIR filed by the CBI based on a complaint from the Oriental Bank of Commerce. The ED alleges that three firms owned by Ranjitkumar J. Loonia obtained cash credit facilities using forged documents and diverted the funds for unauthorized purposes. The proceeds of the crime are estimated to be ₹10.95 crore.

**News Article:**

**Enforcement Directorate Raids Ahmedabad Locations in ₹10.95 Crore Bank Fraud Case**

**Ahmedabad, October 8, 2025** – The Enforcement Directorate (ED) conducted searches at three locations in Ahmedabad, Gujarat, today in connection with a ₹10.95 crore bank fraud case. The raids were carried out by the ED’s Ahmedabad zonal office under the Prevention of Money Laundering Act, 2002.

The investigation originates from an FIR filed by the Central Bureau of Investigation (CBI) following a complaint from the Oriental Bank of Commerce.

According to sources, the ED’s investigation has revealed that three firms – Shree Om Fab, Shree Baba Textile, and Shree Laxmi Fab, all owned by Ranjitkumar J. Loonia and engaged in grey cloth trading – allegedly obtained cash credit facilities using forged documents. The ED alleges that the sanctioned funds were then diverted for purposes other than those stated in the original loan applications.

The agency estimates the proceeds of the crime in this case to be approximately ₹10.95 crore. The investigation is ongoing.

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