The Enforcement Directorate (ED) raided 9 places in Assam and Mizoram on 12 February 2025. The raid was associated with the Rs 146 crore car loan scam in which Mahindra & Mahindra Financial Services Limited suffered heavy losses.
75 crore rupees still with the accused
According to the ED investigation, this scam has been done by former MMFSL employee Zakir Hussain and 4 car dealers. He approved fake car loans using fake customer profiles, fake documents (Aadhaar card, voter ID, income certificate). In this way Rs 146 crore was cheated. Out of which the recovery of Rs 71 crore has already been mMFSL, but 75 crore rupees are still with the accused.
The ED collected information about bank accounts, property and other documents during the raid. Investigation revealed that the money lying in some bank accounts is also related to this scam.
ED also seized 2 cars
After this, the Central Investigation Agency seized an amount of Rs 9.9 crore and 2 cars purchased by Zakir Hussain. This action was taken by the Deputy Director of ED on 7 March 2025. The ED is also investigating other accused and money transactions involved in this scam.
In cases of financial crimes and money laundering across the country, fast action is being taken by the ED. So far in the year 2025, the Central Investigation Agency has raided dozens of places and seized a huge amount of cash. This action of ED is being seen as a major action in the North East. The ED is currently investigating this matter. There may be many more shocking revelations in this case.
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