Layoffs & Tech JobsSep 3, 2026·2 min read

ED raids multiple Kolkata locations in ₹290 crore bank loan fraud probe against Kohinoor Power

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10h ago

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The Enforcement Directorate (ED) on Thursday carried out searches at multiple locations in Kolkata, West Bengal, as part of a money-laundering investigation linked to an alleged ₹ 290 crore bank-loan fraud against Kohinoor Power, according to officials. Kohinoor Power is said to have availed loans from banks to set up a 66 MW power plant in Jharkhand , but the loans were "siphoned off" to other group entities and for personal use, the officials alleged. According to the agency, the company approached the National Company Law Tribunal ( NCLT ), and only ₹ 7 crore could be recovered in liquidation, resulting in losses for the creditors. The search operation began early on Thursday, covering the 11 premises of suspects linked to the case, in close coordination with the security forces and the state police. In the search action, officials said that the premises of the group's promoters, Prashant and Vijay Bothra, along with other directors and auditors, including office premises, are being covered. ED officials said a preliminary probe revealed that the accused were allegedly involved in laundering large amounts of money generated through drug trafficking from Thailand to India. Companies: Comprehensive news and analysis on listed and unlisted companies, corporate announcements, corporate chatter, C-suite, business trends, hiring alerts, layoffs, work-life balance, world's top billionaires and richest and more. 2. National News: From metro cities like Delhi, Mumbai, and e to untapped stories from rural India, we cover human interest, health, education, crime and courts, and law and order, among other areas of public interest. 5. Economy: In-depth analysis of India's macro and micro-economic indicators like- GDP, inflation, forex, fiscal deficit, current account deficit, interest rate cycle, economic recovery, RBI circulars, indirect taxes, GST, Insolvency and Bankruptcy imports, exports and everything that impacts Indian economy. 6. Riya R Alex, Trainee Content Producer Stay updated with the latest Trending , India , World and US news.

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Kohinoor Power is said to have availed loans from banks to set up a 66 MW power plant in Jharkhand, but the loans were “siphoned off” to other group entities and for personal use

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