ED Conducts Searches at Two Locations in Nagpur; Seizes ₹1.95 Crore Cash and Freezes Bank Balances Worth Over ₹40 Lakh
Maharashtra : The Enforcement Directorate (ED), Nagpur, conducted search operations at two locations in Nagpur on October 26, 2026, in connection with an ongoing money laundering investigation involving Shashank Govindprasad Pandey, proprietor of M/s Prayag Developers & Builders. The searches were carried out under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
During the search operations, the ED recovered and seized approximately ₹1.95 crore in cash, along with several incriminating documents and digital devices believed to be relevant to the investigation. The agency also froze bank balances amounting to more than ₹40 lakh as part of its efforts to secure suspected proceeds of crime.
In addition to the cash seizure and freezing of bank accounts, the investigation led to the identification of several immovable properties worth crores of rupees. These properties are suspected to be linked to the proceeds of crime and are now under the agency’s scrutiny.
The seized documents and electronic devices are expected to provide important clues about the financial transactions, business dealings and possible movement of funds associated with the alleged money laundering activities. Investigators will examine these materials to establish the source of the funds and determine whether the identified properties were acquired using money generated through unlawful activities.
The search operation marks a significant development in the ED’s investigation into the alleged financial irregularities involving Prayag Developers & Builders and its proprietor. By seizing cash, freezing bank balances and identifying suspected assets, the agency is working to trace the complete money trail and establish the extent of the alleged proceeds of crime.
The ED’s investigation is continuing, with further examination of the seized evidence and financial records expected to help uncover additional details about the suspected transactions and assets linked to the case.
News Source: Enforcement Directorate (ED) – Official Press Release
