10 Luxury Cars, 3 Superbikes, Rs 13 Lakh Cash: Odisha Businessman Raided

The Endorcement Directorate (ED) during search operations on Sunday, seized 10 luxury vehicles and 3 super bikes from a Odisha-based businessman's home.

The seized high-end luxury vehicles included a Porsche Cayenne, Mercedes Benz GLC, BMW-X7, Audi A 3, Mini Cooper, Honda Gold Wing Bike etc. worth more than Rs 7 Crore. In addition, cash amounting to Rs 13 lakh, jewellery worth Rs 1.12 Crore (approx.) and various incriminating records related to immovable properties owned by Shakti Ranjan Dash and companies. Even two lockers belonging to Shakti Ranjan Dash have also been frozen by the central agency. 

In its press release, the probe agency ED stated, it conducted search operations at 2 premises on September 30 in Bhubaneswar, Odisha including the residential premises of Shakti Ranjan Dash and the business premise of companies in which Shakti Ranjan Dash is Managing Director i.e. M/s Anmol Mines Private Limited (AMPL) and M/s Anmol Resources Private Limited (ARPL) under the provisions of the PMLA, 2002 in connection with an ongoing money laundering investigation in the bank fraud case of M/s Indian Technomac Company Ltd. 

ED initiated investigation on the basis of FIR registered by CID, Himachal Pradesh Police against M/s ITCOL and its promoters alleging that directors of M/s ITCOL in connivance with other official staff of various companies and CAs siphoned off loans availed from a consortium of banks. ED investigation revealed that M/s ITCOL had obtained loans from the consortium led by Bank of India from the years 2009 to 2013 by submitting forged detailed project reports before the banks and by showing fake sales to dummy/shell companies. Further, the loans obtained by M/s ITCOL were not utilized for the purposes they were sanctioned for. The bank fraud amount in the matter was to the tune of Rs 1396 crore approximately.

Earlier in this case, ED had attached assets amounting to Rs 310 Crore. Further, out of these attached assets worth Rs 310 Crore, assets worth Rs. 289 Crore have already been restituted by ED to the consortium of banks led by Bank of India in the month of April 2025.