The raid underway in Ludhiana.
Ludhiana, January 12
The Enforcement Directorate (ED) today raided around 15 premises of SEL Textiles Limited in Ludhiana and Shaheed Bhagat Singh Nagar (Nawanshahr) in connection with the Rs 1,530 crore bank fraud case.
According to sources, leading industrialists and real estate developers having proximity to the SEL group were on the ED radar.
The raids have come up following the ED’s Enforcement Case Information Report (ECIR) filed in 2020 against SEL Textiles Limited in connection with the bank fraud case, which is being probed by the Central Bureau of Investigation.
The ED had already attached properties worth around Rs 830 crore in the case. These properties include land & buildings, plant & machinery of the group in Ludhiana, Muktsar Sahib, Shaheed Bhagat Singh Nagar (Nawanshahr), Alwar and Hisar. The raid was on till the filing of the report.
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