ED Seizes Assets Worth ₹6.35 Crore in SREI Loan Default Probe Involving ARSS and AMR Groups
The Enforcement Directorate (ED), Kolkata Zonal Office, has seized and frozen assets worth approximately ₹6.35 crore during searches linked to the ARSS Group of Odisha and the AMR/AMRL Group of Hyderabad. The action is part of an ongoing money-laundering investigation into alleged loan defaults involving the SREI Group of Kolkata.
The searches were conducted on September 11, 2026, under Section 17 of the Prevention of Money Laundering Act (PMLA), 2002, at several premises connected to the groups’ promoters and associated entities.
According to the ED, the assets seized or frozen include bank balances worth approximately ₹1.50 crore, demat accounts and securities holdings valued at around ₹2.90 crore, and cash and jewellery worth approximately ₹1.95 crore.
The investigation centres on alleged financial irregularities involving loans obtained by the two groups and other entities from SREI Infrastructure Finance Ltd. (SIFL) and SREI Equipment Finance Ltd. (SEFL). The loans allegedly remained unpaid, with investigators examining suspected fund diversion, round-tripping, evergreening of loans and other irregularities.
The ED has identified substantial credit facilities availed by AMRL Hitech City Ltd. and the wider AMRL Group, as well as ARSS Infrastructure Projects Ltd. and the ARSS Group, which subsequently remained unpaid or went into default.
According to the agency, approximately ₹1,111 crore remains outstanding in connection with the groups covered by the searches.
During the operations, the ED also seized digital devices, books of accounts, records relating to movable and immovable properties, and other relevant documents. These materials are being examined to establish the financial transactions of the entities and individuals involved, assess their asset positions and investigate possible links to the alleged money-laundering activities.
The seized material is expected to assist the agency in tracing the movement of funds and examining the circumstances surrounding the outstanding loans. The investigation remains ongoing.
News Source : Information for this article was gathered from a variety of reliable news outlets.
