ED Searches Seven Hyderabad Premises in ₹326-Crore Bank Fraud

The Enforcement Directorate searched seven premises across Hyderabad, Secunderabad, and Medchal-Malkajgiri on Friday as part of a money laundering investigation into Kanakadhara Ventures.

The probe targets an alleged bank fraud resulting in a loss of ₹326.49 crore to a banking consortium led by Punjab National Bank, IDBI Bank, and Bank of Baroda.

During the searches, officials seized incriminating documents, digital records, and ₹15 lakh in unaccounted cash, while initiating the investigation based on a CBI case.