India’s Enforcement Directorate (ED) has ramped up its fight against financial fraud, filing a fresh prosecution complaint in Bhopal against two companies and their affiliates. The move targets M/s Ranjeet Automobiles Pvt Ltd and M/s Ranjeet Motors Pvt Ltd under the Prevention of Money Laundering Act (PMLA), 2002.
ED’s Bhopal Zonal Office submitted the complaint to the Special Court (PMLA) on September 23, 2025. The court took note of the case two days later, on September 26, marking a key step forward in probing money laundering and banking scams.
The story traces back to a 2010 fraud case. The Central Bureau of Investigation (CBI) in Bhopal kicked things off with a First Information Report (FIR) under various Indian Penal Code (IPC) sections. After the CBI charged several people in a follow-up sheet, ED jumped in with its own PMLA probe.
Investigators say the companies tricked Bank of Baroda into granting a cash credit limit, leading to losses of Rs 34.36 crore. It all started small: the firms allegedly used fake tactics to snag Rs 7.50 crore in 2010. Over the next five years, they pushed that up to Rs 42 crore by 2015 through more deception.
ED dug deeper and found the money—meant for real business needs—got diverted to related companies. Those funds went toward buying land and paying off property development loans, classic signs of money laundering.
To hit back, ED seized immovable assets in Bhopal worth Rs 27.30 crore on September 16, 2025, via a provisional attachment order under PMLA. This action freezes the properties to prevent further shady dealings.
The probe isn’t over yet. ED officials are still hunting for more details on the money laundering web and any other players involved in this Bank of Baroda fraud. Cases like this show how Indian agencies are cracking down on white-collar crimes to protect the banking system’s trust.
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