10 luxury cars including Porsche, Mercedes, BMW, 3 super bikes and cash-jewellery seized… Big ED raid in Odisha

New Delhi: The Enforcement Directorate on Saturday raided two places in Odisha’s capital Bhubaneswar as part of a money laundering investigation. The search was conducted at the house of Shakti Ranjan Das and the offices of his companies Anmol Mines Private Limited and Anmol Resources Private Limited.

This ED action is related to one of the country’s biggest bank fraud cases, Indian Technomac Company Limited. The investigating agency alleges that ITCOL and its directors fraudulently took a loan of about Rs 1396 crore from banks between 2009 and 2013. After this, this amount was transferred to different places through shell companies.

In this case, the ED has already attached assets worth Rs 310 crore. Out of this, about Rs 289 crore was returned to the banks in April 2025. ED has raided the offices of companies in connection with the manipulation of crores of rupees.

Case of manipulation of Rs 59.80 crore
Investigation revealed that ITCOL transferred about Rs 59.80 crore to Anmol Mines Private Limited (Odisha) through its shell companies. ED alleges that AMPL’s Managing Director Shankti Ranjan Das helped ITCOL’s promoter Rakesh Kumar Sharma and used the bank loan amount in the mining business. That is, an attempt was made to show black money as legitimate.

Luxury cars and bikes recovered in the raid
ED found many expensive and luxury items in Saturday’s raid. These include 10 luxury cars and 3 superbikes (worth more than Rs 7 crore), Porsche Cayenne, Mercedes Benz GLC, BMW X7, Audi A3, Mini Cooper and Honda Gold Wing bike, among others.

Cash and jewellery recovered in seizure
Apart from these, jewellery worth Rs 1.12 crore, Rs 13 lakh cash, important documents related to real estate, 2 lockers were also frozen. ED has said that the investigation is still going on and more big revelations can happen in future.