The Enforcement Directorate (ED) took a major action on August 12, 2025 and attached a boobable and immortal properties of about Rs 35 crore in the bank fraud case of the old M/s kwality limited.
The attached properties include plants, machinery and advans for industrial land and residential plots in Mohali, Punjab, Nuh in Haryana and Dausa in Rajasthan. All these are in the name of the promoters of the then Promoters Siddhant Gupta and Sanjay Dhingra’s family members or their controlled companies.
Action based on FIR recorded by CBI
ED started this investigation on the basis of FIR recorded by CBI New Delhi. The FIR alleges that the directors of Quality Limited disturbed the data of sales, perchazes, debates and creditors of the company to cheat the bank. The amount of this fraud has been stated to be around Rs 1400.62 crore.
ED investigation revealed that promoters showed more sales and debates by putting fake entries in the account books. Large trading transactions were delivered or received without real goods. At the same time, through shell companies and dummy owners, the bank’s money was hidden by rotating here and there and invested in illegal work.
ED conducted a search operation at 15 places
Earlier, ED had conducted a search operation at 15 places in this case, in which property worth crores, cash and many bank accounts and shell companies were found. At that time, property worth about 450 crore rupees was attached. The investigation of ED is still going on in this entire case. There may be more revelations in the coming days.
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