The Enforcement Directorate (ED) has taken major action. Mumbai Zonal Office conducted a simultaneous massive raid in Mumbai, Delhi and Gurugram under the Prevention of Money Laundering Act (PMLA), 2002 on 18.11.2025. In this action, fixed deposits and mutual funds worth about Rs 51.81 lakh were frozen, while gold coins and biscuits worth about Rs 84 lakh were seized. Besides, a large number of objectionable documents and documents related to financial irregularities were also recovered.
ED’s investigation started on the basis of FIR lodged by CBI, BS&FB, Mumbai. In the FIR, M/s Leeway Logistics Ltd, its directors and guarantors are accused of collectively misusing bank credit worth Rs 167.5 crore. It is alleged that banks were defrauded through fund diversion, round tripping, payments to unrelated companies, and misuse of LCs. As a result, the bank consortium suffered a loss of Rs 173.18 crore between 2013 and 2016. The company’s account was declared NPA on 30 September 2016.
Large amounts of cash from the accounts of dummy companies
ED investigation has revealed that Sanjay Sinha, Director M/s Leeway Logistics Ltd along with many people created many fake (dummy) companies. The loan amount was routed through these institutions so that the company’s turnover appeared higher and additional credit facilities could be obtained from the bank. ED has also come to know that the loan amount was siphoned by withdrawing large amounts of cash from the accounts of these dummy companies. Further investigation by ED is ongoing.
What is ED?
The Enforcement Directorate (ED) is one of the most important central investigative agencies of India, which investigates cases related to economic crimes, foreign exchange violations and money laundering. This agency plays an important role in big financial scams, hawala business, corruption cases and illegal money transactions across the country. The main objective of ED is to control economic crimes, trace illegal money, and eliminate money laundering networks.
When and how did the Enforcement Directorate start?
The Enforcement Directorate was started on 1 May 1956. At that time it was established under the name of Enforcement Unit under the Department of Economic Affairs of the Finance Ministry. Its job was to investigate matters related to the Foreign Exchange Regulation Act (FERA), 1947.
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