The ED’s Jaipur zonal team raided several places on 4 July 2025 in Jaipur and Kota districts of Rajasthan. These action Debock Industries Ltd. The scam related money laundering was done under investigation. The ED team raided the house and offices of the company’s chairman Mukesh Mahawar and his close ones.
The investigation of the case was started by the ED after the case was filed by the Rajasthan Police’s FIR and SEBI. The FIR has names of Abhishek Khandelwal, Nazia Bano and others. It was reported that Debock Industries Ltd., which is an NSE (National Stock Exchange) listed company, this company raised around Rs 49.09 crore through Rights issue in June 2023.
Share money used for personal benefit
Investigation revealed that the company deliberately raised its share prices and cheated the common investors. The company made a place in the stock market by disturbing fake bank accounts, fake sales-credes and financial statement. The money that the company should have used for its business, the owners and their colleagues took it out of other paths and used for personal benefits.
ED has recovered 78 lakh rupees in cash, four luxury vehicles, including Royce Phantom, Bentley Mulsanne, Mercedes G-Wagon and Toyota Land Cruiser in this raid, in addition to some important documents, in which documents of property investment, bank records and digital devices.
Transferred money abroad
The ED has also come to know that some minor employees of the company were made directors to mislead the stock exchange. Also, the money withdrawn from the company was transferred abroad and invested in real estate from there. Currently, the investigation is still going on and according to the ED, there may be more revelations in this case in the coming days.
Also read:- ED’s big action on former IAS officer ML Tayal, assets worth 14.06 crore seized