States » EastPosted at: Oct 30 2026 4:28PM


ED raids multiple locations in Bengal over alleged Rs 290-crore Jharkhand power plant loan scam

Kolkata/ Durgapur/ Asansol, Oct 30 (UNI) The Enforcement Directorate (ED) on Friday conducted simultaneous searches at several locations in Kolkata, Howrah, Hooghly, Durgapur and Asansol in connection with an alleged multi-crore scam involving a loan secured for setting up a 66-megawatt power plant in Jharkhand.
According to ED sources, a private company had obtained a loan of approximately Rs 290 crore from a bank, ostensibly for establishing the power plant. However, investigators suspect that the money was not utilised for the stated purpose and was allegedly diverted elsewhere. The investigation is also understood to be linked to allegations of fund diversion through the creation of shell companies.
In Kolkata, an ED team raided the residence of chartered accountant Ashok Sarathi at an upscale housing complex in Lake Town. Sarathi is suspected of having direct links with the company under investigation. The team arrived in the morning, accompanied by central armed forces personnel, who cordoned off the housing complex. Investigators questioned those present and examined documents during the search.
Another ED team reached the residence of chartered accountant Sudipta Ghosh on Shibtala Street in Uttarpara, Hooghly. Central forces cordoned off the premises as officials conducted searches and enquiries. Ghosh, however, has reportedly denied having any connection with the alleged financial irregularities.
In Asansol's Barakar, ED officials launched a search operation at the residence of Anil Agarwal, under Kulti police station, at around 6 am. Five ED vehicles reached the premises, accompanied by male and female officers. Central forces cordoned off the house and adjoining streets, triggering a stir in the locality. While two vehicles subsequently left, three remained at the spot as the search continued.
Anil Agarwal is the brother of Sonu Agarwal, who resides in Bidhan Nagar, Durgapur, and is the owner of Jay Shri Industries, where ED is conducting separate raids. The nature of the alleged links of the Barakar resident with the company and the loan transactions is yet to be officially established.
The ED also conducted searches at locations in Durgapur and Howrah as part of the same investigation.
UNI BGA/DC/ KS/SAG NST MCR
Tags: #ED raids multiple locations in Bengal over alleged Rs 290-crore Jharkhand power plant loan scam
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