World3h ago
ED raids Ramnandi Hotels across 9 locations in alleged Rs 132-crore bank fraud case
The Enforcement Directorate searched nine locations across three states in an alleged bank fraud case. Ramnandi Hotels and Resorts Ltd is accused of diverting Rs 58 crore from bank loans. The company allegedly used fake reports and personal guarantees to secure these funds. Five pledged properties were reportedly sold at undervalued prices recently. The agency suspects these actions aimed to prevent asset attachment and recover crime proceeds.
This story was originally reported by Times of India — Top Stories. As an automated real-time news aggregator, NewsToolBar provides multi-perspective indexing and AI summarization while directing full readership directly to primary publisher sources.
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