ED raids in Delhi-NCR, Tamil Nadu, Karnataka over Rs 346-crore Hythro Power fraud
The ED conducted searches in Delhi-NCR, Tamil Nadu, and Karnataka in a money laundering investigation linked to an alleged Rs 346 crore bank fraud case involving Hythro Power Corporation Ltd (HPCL) and its directors. The probe revealed that loan funds were siphoned off and diverted through fictitious transactions with related entities, causing losses to banks and eroding creditor interests.