THIRUVANANTHAPURAM: The Enforcement Directorate (ED) is conducting a raid at the office and premises of Heera Constructions. The ED team from Kochi is raiding three places in Thiruvananthapuram. The action is in the case of defrauding the bank by taking a loan of Rs 14 crore.

A loan of Rs 14 crore was taken from SBI for the construction of a flat in Aakkulam. The loan was taken on collateral, including the under-construction flat complex, on the promise that it would be repaid within three years. Though the flats were sold out, the loan was not repaid.

The CBI had earlier registered a case on the complaint that the bank suffered a loss of Rs 12 crore. This is followed by an investigation by ED. The office in Thiruvananthapuram, an under-construction flat complex and a college under Heera Construction are being raided.