The Enforcement Directorate’s latest searches have widened scrutiny of alleged financial irregularities at the Jharkhand State Co-operative Bank’s Seraikela branch, bringing premises across two States under investigation as the agency traces the suspected flow of funds.

Searches Across Two States

The ED’s Ranchi Zonal Office conducted search-and-seizure operations at seven locations in Jharkhand and Odishaunder Section 17 of the Prevention of Money Laundering Act (PMLA). The operation began on Friday and was carried out in coordination with State police and security personnel.

The premises covered residential, business and office locations linked to people under investigation. The operation forms part of an ongoing money-laundering probe arising from alleged fraud involving the Jharkhand State Co-operative Bank (JSCB).

Seraikela Branch at the Centre

According to the ED, the case concerns an alleged large-scale fraud at the bank’s Seraikela branch, allegedly perpetrated by businessman Sanjay Kumar Dalmia in connivance with then JSCB officials. The agency is examining the suspected financial irregularities and the movement of funds connected with the alleged fraud.

The searches include premises associated with Dalmia and other persons linked to the case. Reports have identified locations in Odisha including Bhubaneswar, Sambalpur and Sundargarh, alongside locations in Jharkhand.

Evidence Now Under Examination

The ED said the searches are intended to gather documentary and other material relevant to its money-laundering investigation. Details of material seized during the operation, however, had not been disclosed at the time of reporting.

The Evidence Will Shape the Next Phase

The searches mark another step in an investigation that must now establish the extent of the alleged financial irregularities, the movement of suspected proceeds and the role of individuals involved. The material gathered during the searches—and its examination under due legal process—will determine how the case develops from here.

Source: https://www.awazthevoice.in/india-news/ed-raids-seven-locations-in-jharkhand-odisha-in-jscb-case-67864.html