Kolkata, Jan 16 (NationPress) The Enforcement Directorate (ED) was actively executing raid and search operations at two sites in and around Kolkata regarding bank loan fraud cases valued at approximately Rs 6,000 crore.

Sources familiar with the situation indicated that the two sites being targeted by the ED officials are residential properties – one located in Behala, on the southern fringes of Kolkata, and the other in Shibpur, a locality in the Howrah district adjacent to Kolkata.

One of these residences is owned by a local entrepreneur, Deepak Jain.

ED officials are accompanied by personnel from the Central Armed Police Forces (CAPF).

Reports suggest that these operations are a continuation of earlier raids conducted at the residence of a Kolkata-based businessman in Ballygunge in December 2024, linked to a bank loan fraud of Rs 6,000 crore.

During those earlier raids, Rs 2 crore in cash, Rs 4.5 crore in jewellery, and two high-end vehicles were confiscated by the ED.

Sanjay Surekha, the proprietor of Comcast Steel and Power Limited, was also apprehended during that operation.

The primary allegation against Surekha was that he took loans totaling Rs 6,000 crore from a consortium of commercial banks via various accounts and subsequently defaulted on repayment.

Sources revealed that the central agency is currently attempting to trace the financial transactions to clarify how the loans obtained by Surekha were misappropriated.

It is alleged that bank accounts registered under the names of employees and business associates of the corporate entity were also exploited to secure these loans. Furthermore, Surekha has not provided satisfactory explanations for the cash seized from his home or the sources of funds for the expensive jewellery and imported luxury vehicles.