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ED raids Kwality’s former directors, promoters

The Enforcement Directorate (ED) on Wednesday conducted searches at multiple locations in Delhi and adjoining areas as part of a probe into an alleged bank loan fraud case against former promoters of the liquidated dairy major, Kwality Ltd, official sources...

PTI

New Delhi, Updated At : 04:59 AM Nov 28, 2024 IST

The Enforcement Directorate (ED) on Wednesday conducted searches at multiple locations in Delhi and adjoining areas as part of a probe into an alleged bank loan fraud case against former promoters of the liquidated dairy major, Kwality Ltd, official sources said. As per the CBI’s FIR filed in September 2020, a consortium of 10 banks was duped of Rs 1,400 crore through bloating of financial statements and diversion of loan funds.

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