Bhubaneswar: The Enforcement Directorate (ED) conducted simultaneous raids on Thursday at five locations in Bhubaneswar, including the corporate office of Bharatiya Vigyan Vikash Charitable Trust having links with Hi-Tech group of institutions.
As per sources the search operation was carried out by ED’s Kolkata unit at the corporate office of the trust located in Saheed Nagar area of Bhubaneswar.
The action by the central agency comes following allegations of large-scale financial irregularities and land fraud.
ED officials began early-morning searches, scrutinizing financial records and
seizing crucial documents that could prove incriminating. Staff members of both the charitable trust and Hi-Tech Medical College were questioned, though no official statement has yet been issued. Sources revealed that the trust allegedly purchased land belonging to Sahara India through fraudulent means. These properties had already been attached in separate cases by the ED.
Following this, the Securities and Exchange Board of India (SEBI) had issued notices to the trust, prompting ED’s deeper involvement. Investigators suspect that the trust acquired land at artificially low rates, evaded stamp duty and amassed property through illegal transactions.
Official sources said the trust had earlier been served notices to explain its position on the allegations. With Thursday’s raids, the ED is intensifying its probe into suspected diversion of funds and irregular land dealings. Officials indicated that the investigation could widen further, with trustees and associates likely to face questioning.