India’s ED raids at 7 locations in Jammu » Kashmir Media Service

NIA raids at 16 places in UP, Delhi in probe against new ISIS-linked terror  moduleJammu, November 11 (KMS): In Indian illegally occupied Jammu and Kashmir, India’s Enforcement Directorate (ED) conducted searches at seven locations in Jammu region.

The ED conducted searches in connection with bank fraud case against an industrialist Raj Kumar Gupta and others.

“Incriminating documents pertaining to various companies floated by Raj Kumar Gupta to divert cash credit loans were recovered during the searches,” Jammu-based daily Excelsior reported while quoting official sources.

Gupta had secured Rs 35 crore cash credit on the name of M/s Jhelum Infra Projects India Private Limited and the outstanding has reached Rs 36.5 crore. He had obtained Rs 16 crore on the name of M/s ID Sood Ispat Private Limited and the outstanding has reached Rs 17.68 crore. He had secured Rs 32.50 crore on the name of M/s Jhelum Industries and the outstanding stood at Rs 33.83 crore.

All three loans have turned into Non Performing Assets (NPAs), official sources told Excelsior. The case pertained to the commission of fraud, cheating, forgery, diversion and siphoning of funds meant and allotted for business activity to the three companies, all of which are concerns of Raj Kumar Gupta known with the name of RKG Group, they added.

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