BHOPAL: The Enforcement Directorate (ED) on Tuesday conducted searches at premises linked to the LNCT Group in Bhopal and other locations in connection with an alleged financial irregularity case involving more than Rs 200 crore.
According to officials, the agency is examining financial records, banking transactions, account statements, property-related documents and digital evidence as part of its investigation. The searches follow a case registered by the Madhya Pradesh Economic Offences Wing (EOW) against members of the Chouksey family, promoters of the LNCT Group.
The ED and the EOW are investigating the movement of funds between various accounts, institutions and companies. The agency has not yet issued a detailed official statement on the ongoing operation.
The case came under the ED’s scrutiny after the EOW registered a First Information Report (FIR) alleging financial irregularities exceeding Rs 200 crore. Searches are continuing at educational institutions and other premises linked to the matter.
According to investigators, transactions relating to students’ fees, scholarships and educational loans are among the key areas under examination. The probe is looking into allegations that funds collected under various heads, including hostel and transport charges, were diverted to private accounts.
Investigators are also examining claims that scholarship amounts were transferred to accounts other than those designated for the purpose. Media reports indicate that transactions involving several entities, including Kalchuri Contractors Limited, are being scrutinised.
The investigation is further examining allegations that bank loans obtained for educational and institutional purposes were used for activities unrelated to their stated objectives. Authorities are assessing whether any funds were diverted towards the acquisition of private assets.
The ED is also reviewing the financial activities of Aastha Foundation and certain other societies that are alleged to have been involved in the movement of funds. The investigation remains ongoing, and no conclusions have been announced by the agency.
