ED searches seven premises in Hyderabad over alleged ₹326-crore bank fraud
The Enforcement Directorate has conducted searches across Hyderabad regarding a ₹326-crore bank fraud case involving Kanakadhara Ventures Pvt Ltd. The investigation focuses on the alleged diversion of funds through fabricated invoices and unauthorized bank accounts.
Why it matters
It underscores ongoing efforts by Indian financial regulators to combat corporate fraud and money laundering within the banking sector.
ED searches seven premises in Hyderabad over alleged ₹326-crore bank fraud left The ED investigation was initiated based on a case registered by the Central Bureau of Investigation, BS&FB, Bengaluru, on a complaint by Punjab National Bank. File. https://th-i.thgim.com/public/news/national/bjtodg/article71560182.ece/alternates/FREE_1200/vbk-stock-Enforcement%20Directorate%20thmni.jpg The investigation concerns the alleged defrauding of a consortium of banks led by Punjab National Bank, along with IDBI Bank, Union Bank of India, Andhra Bank (now part of Union Bank of India), and Bank of Baroda, resulting in a loss of ₹326.49 crore HYDERABAD The Enforcement Directorate (ED) conducted searches at seven premises across Hyderabad, Secunderabad and Medchal-Malkajgiri on Friday (October 23, 2026) as part of a money laundering investigation into the alleged diversion of bank funds by Kanakadhara Ventures Pvt Ltd (KVPL) and its directors.
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