The Enforcement Directorate (ED) conducted searches at various locations associated with Haryana Congress MLA Rao Dan Singh as part of a money laundering investigation linked to an alleged Rs 1,392 crore bank loan fraud. The raids targeted about 15 locations in Mahendragarh, Bahadurgarh, and Gurugram in Haryana, as well as in Delhi and Jamshedpur.
Among the properties searched were those belonging to the 65-year-old MLA from Mahendragarh constituency, his son Akshat Singh, and the metal fabricating company Allied Strips Limited (ASL), along with its promoters Mohinder Agrawal and Gaurav Agrawal.
ASL, which manufactures cold roll steel products, is at the centre of the bank loan fraud case and was booked by the CBI in 2022. The company allegedly took loans amounting to Rs 1,392 crore but failed to repay them. Sources indicate that the loan money taken by Rao Dan Singh’s family and their companies from ASL was never returned and eventually written off.
The case originated from a complaint lodged by Canara Bank, which led a consortium of five banks that provided credit facilities to ASL. The company began delaying interest and instalment payments in November 2012. Despite the lenders restructuring the loans in December 2013 at the company’s request, the account subsequently turned into a non-performing asset.
