India, Sept. 13 -- The Enforcement Directorate (ED) has frozen funds worth about Rs.35 crore and seized a BMW during searches at six locations in Mumbai and Chhatrapati Sambhaji Nagar in an alleged Rs.135-crore bank fraud case involving a private firm, the agency said.

The searches were conducted against M/S Gajanan Gangamai Industries LLP (GGI LLP), its partners, and others as part of a money-laundering investigation, according to ED officials.

The agency froze a fixed deposit account with a balance of USD 3.7 million (about Rs.35.71 crore) held with the Singapore branch of Indian Bank. A BMW, along with documents and digital devices containing allegedly incriminating material, was also seized, officials said.

The ED's investigation i...