The Directorate of Enforcement (ED), Delhi Zonal Office, conducted extensive search operations on November 27, 2024, at 15 locations in Delhi and the National Capital Region (NCR) linked to the erstwhile Kwality Ltd and its former promoters and directors, Sanjay Dhingra and Siddhant Gupta. The searches also targeted shell companies associated with them.
New Delh-based Kwality Ltd went through corporate insolvency resolution process and was ordered to be liquidated in January 2021. Later it was acquired by Sarda Mines Pvt Ltd as going concern under the liquidation process.
The ED initiated investigations based on an FIR filed by the Central Bureau of Investigation (CBI), New Delhi, accusing the aforementioned individuals…