ED conducts raids in Delhi in Kwality’s ₹1,400 crore fraud case

ED conducted searches at several locations in Delhi and adjoining areas as part of investigation into bank loan fraud against former promoters of liquidated dairy company Kwality. The CBI had filed an FIR in 2020 against Kwality and its directors for allegedly cheating 10 banks of over ₹1,400 crore through alleged bloating of financial statements and diversion of loan funds.