The Enforcement Directorate (ED) on Thursday reportedly conducted searches at around nine locations in Yavatmal and Wani in connection with its investigation into alleged financial irregularities involving Maharashtra-based Babaji Date Mahila Sahakari Bank.
According to a media report, the searches were conducted at residences and other premises linked to loan defaulters of the bank. ED teams reportedly examined documents related to loan accounts and transactions during the operation.
The report said the investigation is looking into loan disbursements, loan accounts, valuation of mortgaged properties, outstanding dues and transactions connected with the loan cases.
Babaji Date Mahila Sahakari Bank is currently under liquidation, with deposits of several members reportedly remaining unsettled. The reported ED action has drawn attention within the cooperative sector.
However, the exact scope of the searches, identities of those searched and whether any documents or other material were seized have not been officially disclosed so far. Reports suggesting the involvement of directors or prominent businessmen could not be independently confirmed.
