Enforcement Directorate raids nine sites over alleged Rs 132-crore fraud at Ramnandi Hotels
The Enforcement Directorate searched nine locations in Gaya, Gurugram and New Delhi under the PMLA, probing a Rs 132-crore bank fraud linked to Ramnandi Hotels and Resorts Ltd.
On Friday, the Enforcement Directorate conducted coordinated searches at nine premises across Bihar, Haryana and the national capital, acting under Section 17 of the Prevention of Money Laundering Act. The raids focused on Ramnandi Hotels and Resorts Ltd, a Gaya-based hospitality firm accused of orchestrating a Rs 132-crore bank fraud. Authorities claim the company’s properties were transferred at grossly undervalued prices, with sale deeds recording cash receipts.
Investigators suspect that several buyers were benamis or front-men for Akhouri Gopal, who is alleged to have benefitted from the scheme. The searches spanned six locations in Gaya, two in Gurugram and one in New Delhi. The case highlights intensified scrutiny of financial irregularities in India’s hospitality sector.
Why it matters
It demonstrates heightened enforcement against large-scale financial fraud and possible misuse of corporate assets in India.
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