The Enforcement Directorate (ED) has launched searches at 10 locations across Odisha and West Bengal in connection with an alleged financial fraud involving approximately ₹122 crore.
The searches are reportedly underway in Cuttack, Bhubaneswar, Angul, Kolkata and Kaptipada, among other locations. The operation is part of an investigation into allegations that a financial services company cheated people across different parts of the country.
In Bishol village, a three-member ED team, accompanied by two bank officials and police personnel, conducted a search at the residence of Ishwar Bindhani, identified as the Odisha head of Kalpana Financial Services.
The company is accused of allegedly collecting money from people and defrauding investors of around ₹122 crore across the country. The ED’s searches are aimed at gathering evidence and examining details related to the alleged financial transactions.
The operation across multiple locations indicates the wider scope of the investigation. Further details about the searches, the evidence collected and the next course of action are awaited.
The investigation is ongoing, and the allegations against the company and individuals involved remain subject to the findings of the authorities.
