The Directorate of Enforcement (ED), Hyderabad Zonal Office, on Friday conducted search operations at seven premises across Hyderabad, Secunderabad and Medchal-Malkajgiri in Telangana under the Prevention of Money Laundering Act (PMLA), an official statement said on Saturday.

The raids targeted the registered office of M/s Kanakadhara Ventures Pvt. Ltd. (KVPL), the residences of its directors, and premises linked to entities and individuals alleged to have acted as conduits for the diversion of bank funds.

The searches form part of an ongoing investigation into the alleged “misutilisation” and diversion of credit facilities sanctioned to KVPL and its directors, the ED statement said.

The ED case stems from an FIR dated December 8, 2022, registered by the Central Bureau of Investigation, Bank Securities and Fraud Branch (BS&FB), Bangalore, on a complaint from Punjab National Bank.

The FIR alleges offences under Sections 120-B, 420, 468 and 471 of the Indian Penal Code, and provisions of the Prevention of Corruption Act, 1988.

According to the agency, a consortium of banks led by Punjab National Bank — comprising IDBI Bank, Union Bank of India, Andhra Bank (now UBI) and Bank of Baroda — suffered a loss of Rs 326.49 crore.

ED investigations revealed that Bank Guarantee and Letter of Credit facilities granted to KVPL were misused. Funds were allegedly diverted through related and conduit entities on the strength of fabricated steel purchase invoices and transport documents.

The company is also accused of operating bank accounts outside the consortium arrangement without the knowledge of the lending banks, the statement said.

During the searches, officials seized incriminating documents, digital devices and other records related to the diversion and layering of funds. Unaccounted cash amounting to Rs 15 lakh was also recovered.

Multiple immovable properties and investments linked to the case have been identified.

ED said further investigation is underway.

The coordinated action underscores the agency’s continued focus on tracing the proceeds of bank frauds and cracking down on complex money-laundering networks involving corporate entities.

A Class 12 student died on Saturday after allegedly pouring an inflammable substance on herself and setting herself on fire at Sarvodaya Bal/Balika Vidyalaya in East Delhi Krishna Nagar area, officials said on Saturday.

The incident triggered panic among teachers and students on the school premises, prompting the authorities to initiate an investigation into the circumstances surrounding the student’s death.

Officials said certain suspicious items were reportedly found in the student’s school bag. However, the nature of these items has not yet been officially confirmed, and the police are examining the circumstances that led to the incident.

According to officials, a Police Control Room (PCR) call reporting a fire incident was received from the school located in the Krishna Nagar area of Delhi’s Shahdara district.

“Upon receipt of the information, police staff from PS Krishna Nagar promptly reached the spot, where an approximately 18-year-old female student of Class 12th was found in a burnt condition behind the school guard room,” officials said.

They further stated that some materials were recovered during the initial proceedings at the scene and from the deceased student’s school bag. These items are being examined as part of the investigation.

“During preliminary proceedings, certain materials were recovered from the spot and the deceased girl’s school bag,” they added.

The police said a Crime Team of the Delhi Police was called to the school to inspect the scene, examine the circumstances and collect relevant evidence that could help establish the sequence of events leading to the incident.

“The circumstances leading to the incident are being examined, and further enquiry is in progress,” the police said.

A fire brigade team and police personnel were also present at the school as authorities began investigating the incident.

The police are examining the available evidence and the materials recovered from the spot to determine the circumstances surrounding the student’s death.

The investigation is ongoing, and officials have not yet confirmed the nature of the suspicious items reportedly recovered from the student’s bag.

Further details are expected to emerge as the police continue their enquiry into the incident.

The Maharashtra Anti-Terrorism Squad (ATS) has arrested a 33-year-old man suspected of having links with the banned terrorist organisation Jaish-e-Mohammed (JeM) from Mumbai Mahim area, officials said.

The accused, identified as Mohammad Hasan Abu Sarmad Akhtar, was apprehended by the Kalachowki unit of the Maharashtra ATS near Mahim Metro station following a tip-off.

According to the investigating agency, the accused used his work as a Rapido rider and perfume seller as a cover while propagating radical ideology.

The ATS alleged that he was attempting to spread communal hatred and anti-national sentiments through various social media platforms. Investigators also recovered material allegedly linked to such activities from his mobile phone.

According to the agency, the accused operated a Telegram group where he allegedly uploaded inflammatory audio speeches by Jaish-e-Mohammed chief Maulana Masood Azhar on the Babri Masjid and other issues on June 1. The ATS also claimed that he was an active member of a Pakistan-backed extremist Telegram channel called ‘IBN-e-Qasim’.

The arrest comes months after the Gujarat ATS detained five people in July during an investigation into an alleged terror module linked to JeM.

The five accused were identified as Bilal Abidbhai Shera, Mohammad Ayub Kadiwala, Mohammad Palanpuri alias Khali Ayub Sunsara, Shafia Rais Mukhti and Mohammad Hasan Kardia. They were arrested from Khadiyal village in Siddhpur taluka of Gujarat’s Patan district.

Officials said the five suspects came under the scanner during the investigation into eight alleged JeM operatives arrested earlier that month.

The accused were produced before Judicial Magistrate R.M. Bhatia in Kadi town of Mehsana district, who remanded them to ATS custody until July 24.

Public Prosecutor P.R. Dantani told the court that custodial interrogation was necessary to investigate the alleged activities of the accused. He had claimed that one of them had attempted to make a time bomb and that investigators were yet to recover bomb-making materials and Urdu literature linked to the JeM.

Speaking to reporters, Dantani had said the names of the five accused had emerged during the investigation. He added that the ATS wanted to determine the source of the alleged bomb-making materials, where they had been concealed, and how the accused obtained jihadi literature associated with the banned outfit.

Investigators were also seeking information about where the literature had been stored.