Kolkata-based businessman arrested by ED in Rs 2,600-crore bank fraud case The 40-year-old was arrested after being intercepted at Kolkata airport on the basis of a Look-Out Circular (LOC) while he was trying to travel to Thailand earlier this month. AdvertisementPratyush Kumar Sureka was intercepted at Kolkata airport on the basis of a Look-Out Circular (LOC) on January 5, 2026. Munish Chandra PandeyUPDATED: Jan 19, 2026 08:28 ISTEdited By: Mayukh DebnathThe Enforcement Directorate (ED) has arrested Kolkata-based businessman Pratyush Kumar Sureka (40) in a Rs 2,600-crore money laundering case linked to an alleged bank fraud involving a jewellery manufacturer. The arrest comes amid a tense standoff between the probe agency and the West Bengal government, following the controversial I-PAC raids in Kolkata. The ED initiated its investigation on the basis of an FIR registered by the Central Bureau of Investigation (CBI) against Shree Ganesh Jewellery House (I) Limited (SGJHIL) and its promoters for allegedly defrauding a consortium of 25 banks of around Rs 2,672 crore. advertisementThe probe has revealed that SGJHIL diverted loan funds sanctioned for its core jewellery business into solar power projects through Alex Astral Power Private Limited and its related entities, the ED claimed. According to the central agency, the alleged embezzlement took place during 2011-12.
