ED raids ADC Bank with Amit Shah as director

Mumbai: On suspicions of block money deposits a team of ED officers conducted a 7-hour long search at the premises of Ahmedabad District Co-operative Bank’s HQ on Ashram Road, Ahmedabad. They are believed to have unearthed irregularities at the bank, which has BJP national president Amit Shah as one of its nine directors. He has so far refused any comment. Agriculturists, dairy farmers and small-scale industrialists account for eighty five per cent of the 190-branch bank’s account holders. Despite such a profile, the flow of Re. 500 crore into some accounts within three days of the demonetisation announcement raised suspicions.

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