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.
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