ED gets custody of industrialist Sanjay Sureka in bank fraud case

A court on Wednesday granted the ED 14 days of custody of Sureka.

On Tuesday and Wednesday, the ED conducted raids at over 10 locations in West Bengal, including Sureka’s residence in south Kolkata’s Ballygunge area, under the provisions of the PMLA, 2002, an official said.

According to ED sources, the arrest was part of an ongoing investigation into a Rs 6,000 crore bank fraud which involved at least 16 banks across the country, including Jharkhand and Odisha. It has been alleged that Sanjay Sureka had allegedly secured loans worth Rs 6,000 crore through several accounts, but had failed to repay the loans.

The ED had been monitoring Sureka’s role in the alleged fraud for over a year and conducted searches at 10 locations linked to him, including his residence at Mandivilla Garden, said sources.

“We are trying to ascertain how many people are behind this or if there are some influential people involved,” an official said.

During questioning, Sureka was unable to provide satisfactory answers regarding the misuse of funds and the seized jewellery. Additionally, Sureka could not produce valid documents for the valuables found at his residence.

— WITH PTI