Retired IPS Officer Seeks ED Action in Alleged Ind-Bharath Bank Fraud Cases Involving ₹2,011.72 Crore
P.V. Sunil Kumar has urged the ED to investigate alleged fund diversion and loan fraud involving the Ind-Bharath Group and its promoter.
Retired IPS officer P.V. Sunil Kumar has urged the Enforcement Directorate (ED) to register an Enforcement Case Information Report (ECIR) and initiate an investigation into alleged Ind-Bharath Group bank fraud cases involving `2,011.72 crore.
In a representation to ED director Rahul Navin, Sunil Kumar sought prompt action against the Ind-Bharath Group, its promoter K. Raghu Rama Krishna Raju and associated entities under the Prevention of Money Laundering Act (PMLA), 2002, and the Foreign Exchange Management Act (FEMA), 1999.
He said the Central Bureau of Investigation (CBI) had registered multiple FIRs and investigated alleged loan fraud cases involving the group and its promoter. He also referred to forensic audits and investigations that, according to him, had found large-scale diversion of funds.
Sunil Kumar urged the ED to take legal steps to vacate the long-standing interim stay in W-.P. No. 24136 of 2034 before the High Court and take appropriate action in accordance with the law.
