The Enforcement Directorate raided two places in Bhubaneswar, the capital of Odisha, on Saturday under the money laundering investigation. The search was done in the house of Shakti Ranjan Das and his companies Anmol Mines Private Limited (AMPL) and Anmol Resources Private Limited (ARPL).
This action of ED is associated with Indian Technomac Company Limited (ITCOL), one of the country’s big bank fraud cases. The investigating agency alleges that ITCOL and its directors took a loan of about Rs 1396 crore from banks between 2009 and 2013. After this, this amount was transferred at different places through shell companies.
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In this case, the ED has already attached assets worth Rs 310 crore. Of these, about Rs 289 crore was returned to banks in April 2025.
59.80 crore manipulation case
Investigation revealed that ITCOL through its shell companies transferred around Rs 59.80 crore to precious mines Private Limited (Odisha).
The ED alleges that AMPL managing director Shankti Ranjan Das helped ITCOL promoter Rakesh Kumar Sharma and used the amount of bank loan in a mining business. That is, an attempt was made to make black money valid.
Luxury car-box recovered in raids
In Saturday’s raid, the ED found many expensive and luxury things. These include 10 luxury vehicles and 3 superbikes (price more than Rs 7 crore), Porsche Keyen, Mercedes Benz GLC, BMW X7, Audi A3, Mini Cooper and Honda Gold Wing Bike.
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Cash and jewelery recovered in seizure
Apart from these, jewelery worth Rs 1.12 crore, Rs 13 lakh cash, important documents related to land-property, 2 lockers were also freezed, the ED has said that the investigation is still going on and there can be further big revelations.
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