Shimla, Aug 31 – The Enforcement Directorate (ED), Shimla unit, on Friday carried out massive search operations in Bhubaneswar, Odisha, at the residential premises of businessman Shakti Ranjan Dash and his linked entities – M/s Anmol Mines Pvt Ltd (AMPL) and M/s Anmol Resources Pvt Ltd (ARPL) – in connection with the ₹1,700-crore bank fraud case of Indian Technomac Company Ltd (ITCOL), Paonta Sahib (Himachal Pradesh).
During the raids, sleuths seized a trail of wealth – 10 luxury vehicles, three superbikes worth over ₹7 crore, ₹13 lakh in cash, jewellery worth around ₹1.12 crore, incriminating property records, and froze two lockers linked to Dash.
The crackdown is part of ED’s probe under the Prevention of Money Laundering Act (PMLA) into the mega fraud that has left banks bleeding.
ITCOL, once touted as a major steel player, allegedly siphoned off loans taken from a consortium of banks, leading to one of Himachal Pradesh’s biggest financial scandals.
According to ED sources, Dash and his companies are under the scanner for routing and parking ITCOL’s diverted funds through mining and resource firms, creating layers of shell entities to conceal money trails.
This isn’t the first time ITCOL has come under enforcement glare.
Earlier, ED had attached several properties of the company and its promoters in Himachal and other states.
These searches add fresh pressure on the alleged beneficiaries and conduits of the scam.
With assets piling up in the seizure list, ED officials hinted that more raids and attachments could follow in the coming weeks as the agency expands its net in the ITCOL case.
