Kolkata, Jan 31 (PTI) The Enforcement Directorate (ED) on Thursday raided the premises of a businessman in the city.Also Read - Sri Lanka Like Protests Could Erupt In Other Nations, Warns IMF

ED sources said that the businessman, Nilesh Parekh had allegedly duped nationalised and private banks of Rs 2600 crore. Also Read - Union Bank Of India Savings Account Interest Rates Revised! Check Latest Rates Here

He used to borrow money from these banks for manufacturing jewellery meant for exports and never repaid them. Also Read - 8 Dead, Several Injured After SUV Rams Into Truck in UP's Siddharthnagar; PM Modi Announces Rs 2 Lakh Ex gratia for Kin of Deceased

The sources said that ED would attach assets of the businessman. PTI dc

This is published unedited from the PTI feed.