The Enforcement Directorate (ED) has filed a charge sheet against 13 individuals and entities, including Ushdev International Ltd (UIL) and its director, Prateek Gupta, in connection with an alleged ₹1,438.45 crore ($173 million USD) bank fraud. The investigation began in August 2022 following a complaint from the State Bank of India (SBI), which accused UIL and its directors of conspiring to defraud multiple banks, including the Central Bank of India and Indian Overseas Bank. The ED's findings, supported by a forensic audit, indicate that funds from loans sanctioned between April 2013 and March 2018 were misappropriated, with a significant portion allegedly diverted to shell companies and related overseas entities. The audit revealed that UIL's loan accounts were declared non-performing assets on October 2, 2016, and flagged numerous irregularities in transactions. The investigation also uncovered that forged trade documents were submitted to induce banks to release funds, while export proceeds were not repatriated to India, leading to the alleged parking of proceeds of crime abroad.