The Enforcement Directorate (ED), Shimla, has seized assets worth more than Rs 8 crore following raids in Bhubaneswar in connection with the multi-crore bank fraud case involving M/s Indian Technomac Company Ltd. (ITCOL).
On August 30, 2025, ED officials carried out search operations at the residence of Shakti Ranjan Dash and at the offices of his companies — M/s Anmol Mines Pvt. Ltd. (AMPL) and M/s Anmol Resources Pvt. Ltd. (ARPL).
The searches, conducted under provisions of the Prevention of Money Laundering Act (PMLA), led to the recovery of a massive haul of high-value assets. Officials seized 10 luxury cars and 3 superbikes worth over Rs 7 crore, cash amounting to Rs 13 lakh, and jewellery valued at Rs 1.12 crore. In addition, two bank lockers linked to Dash have been frozen.
According to ED sources, the raids are part of a wider investigation into ITCOL’s bank loan fraud, where the company is accused of siphoning off funds and causing massive losses to a consortium of banks.
The agency stated that further scrutiny of seized documents and digital evidence is underway, and more attachments are likely in the coming weeks.
