MP’s Sendhwa ED Raids Cotton Trader Ashok Tayal, Brothers Over Alleged Financial Irregularities

Sendhwa (Madhya Pradesh): The Enforcement Directorate (ED) conducted searches at the residences and business premises of cotton trader Ashok Tayal and his brothers in Sendhwa on Wednesday in connection with an ongoing investigation into alleged money laundering and other financial irregularities.

ED teams reportedly reached multiple locations at 6 am and continued searches inside the premises.

Officials did not disclose details about the action. One team was seen leaving the Rajrajeshwar Ventures premises on Varla Road at 2 pm.

The searches come around eight months after the Central Bureau of Investigation (CBI) conducted raids at the premises of the Tayal brothers in connection with an alleged Rs 13 crore loan fraud case involving NABARD Bank, Bhopal.

According to the report, the CBI had registered a case against Nimad Agro Park operators Arpit Rajendra Kumar Tayal, Nikunj Girdharilal Tayal, Ashok Bihari Lal Tayal and Ankit Girdharilal Tayal, along with unidentified government employees, over alleged fraud and financial irregularities.

The case relates to a Rs 13 crore loan sanctioned in 2019 under a NABARD food-processing fund scheme.

The investigation followed allegations that loan funds were transferred to other accounts and that project timelines were not met.