ED raids 11 Kolkata sites in Rs 290 crore Kohinoor Power loan fraud case

India's Enforcement Directorate conducted searches at multiple Kolkata locations on Thursday in a money laundering probe into an alleged Rs 290 crore bank loan fraud involving Kohinoor Power. The company is accused of siphoning off loans meant for a 66 MW power plant in Jharkhand. The loans were allegedly diverted to other group entities and for personal use, according to officials. The company went into liquidation at the National Company Law Tribunal, with only Rs 7 crore recovered for creditors, causing significant losses. Eleven premises in Kolkata were searched under the Prevention of Money Laundering Act, belonging to promoters Prashant Bothra and Vijay Bothra, along with other directors and auditors.