In a significant financial crackdown, the Enforcement Directorate (ED) has launched a major offensive against Kolkata-based businessman Harish Bagla, promoter of Amrit Feeds Limited, for his alleged involvement in a massive bank fraud amounting to ₹144.68 crore.
The PMLA Complaint and Allegations
The federal investigation agency has filed a comprehensive complaint under the Prevention of Money Laundering Act (PMLA), marking a serious escalation in the case that has sent shockwaves through Kolkata's business community.
According to ED officials, the investigation has uncovered a complex web of financial irregularities and suspected money laundering activities connected to the alleged bank fraud. The case represents one of the significant financial investigations in Eastern India's corporate sector.
Massive Asset Attachment
In a decisive move, the Enforcement Directorate has attached multiple high-value assets belonging to Bagla and his associated entities. The attached properties include:
- Residential and commercial real estate properties across prime locations
- Substantial bank balances and financial instruments
- Other valuable assets connected to the alleged money laundering operation
The Scale of Financial Irregularities
The ₹144.68 crore bank fraud case represents one of the substantial financial investigations in the region. The ED's action comes after extensive investigation into the financial transactions and business operations of Amrit Feeds and its promoter.
Industry sources indicate that this case could have broader implications for corporate governance and banking compliance in the feed manufacturing and agri-business sector.
Ongoing Investigation
The Enforcement Directorate continues to probe deeper into the financial trail, examining documents and transaction records to establish the complete money trail. Officials have indicated that further developments in the case are expected as the investigation progresses.
The case highlights the increasing vigilance of financial regulatory authorities in tackling white-collar crimes and banking sector frauds across India, particularly in the eastern region.
