ED Searches Conducted in Mumbai and Ahmedabad Over Alleged Bank Fraud

The Enforcement Directorate conducted searches at 12 premises in Mumbai and Ahmedabad on September 30, 2026, as part of a money laundering investigation into alleged bank fraud involving companies of the Tayal group. During the searches, the agency seized Rs 20 lakh in cash from a residential premise and identified documents relating to several immovable properties. Additionally, 215 bank accounts linked to the accused entities were frozen under the Prevention of Money Laundering Act.

The investigation is tied to alleged attempts to use insolvency proceedings to protect assets and led to the identification of fresh non-performing assets (NPAs) created by group companies. The freezing of numerous bank accounts impacts the financial operations of the entities involved in the investigation.