The Enforcement Directorate (ED), Mumbai Zonal Office, conducted searches on November 25-26, 2025, across 12 premises in Pune, seizing incriminating documents and high-end cars (including BMW, Mercedes, and Land Rover), as part of a Prevention of Money Laundering Act (PMLA) investigation into a vehicle loan fraud scheme at the State Bank of India (SBI), where the then-Chief Manager, Amar Kulkarni, allegedly conspired with an Auto Loan Counsellor and borrowers to sanction high-value car loans using forged documents and fake quotations.
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