The Enforcement Directorate (ED) on Monday performed raids on the places of work of India Bulls Finance Centre in Mumbai and Delhi in reference to a Prevention of Cash Laundering case lodged in opposition to the corporate and its promoter Sameer Gehlaut in April 2021.
The ED had earlier recorded the assertion of a Pune primarily based businessman who offers in actual property, on this connection.
The ED officers held a gathering on Sunday to plan Monday’s raid. Separate groups had been shaped to get well a couple of incriminating paperwork.
Earlier, a case was lodged in opposition to the corporate and its promoter at Palghar, Maharashtra. It had been alleged within the FIR that the actual property firm first took mortgage from India Bulls and invested in India Bulls housing shares. The corporate had elevated the share worth and the cash had been later siphoned off to different entities.
The Delhi Excessive Courtroom had issued an order barring the ED from taking coercive motion in opposition to the corporate.
Additional particulars are awaited.
–IANS
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(Solely the headline and movie of this report could have been reworked by the Enterprise Normal employees; the remainder of the content material is auto-generated from a syndicated feed.)
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