ED raids 8 Santosh Overseas Ltd sites in ₹450cr probe
India
The Enforcement Directorate (ED) just raided eight spots in Delhi, Uttar Pradesh, and Punjab as part of a big investigation into Santosh Overseas Ltd.
They're looking into an alleged ₹450 crore money laundering case, with Friday morning searches focused on the company's top people and those who helped them.
CBI case alleges ₹450cr bank fraud
This all started with a CBI case about a huge bank fraud: approximately ₹450 crore allegedly taken from several banks.
Officials say the money was shuffled around using fake companies, bogus invoices, and complicated transactions to hide its trail.
The ED says they've already found evidence of serious financial wrongdoing, and more digging is still happening.