India News | ED Raids 13 Places Across Delhi-NCR, Bengaluru, Chandigarh in Fraudulent NRI Housing Loan Case
Get latest articles and stories on India at LatestLY. The search operation began early in the morning in close coordination with police and other security forces under the Prevention of Money Laundering Act (PMLA), covering the premises of suspects linked to the case.
New Delhi [India], October 23 (ANI): The Enforcement Directorate (ED) on Friday conducted searches at 13 locations across Delhi-NCR, Bengaluru and Chandigarh in connection with a money laundering case relating to fraudulent NRI housing loans allegedly obtained using forged documents, officials said.
The search operation began early in the morning in close coordination with police and other security forces under the Prevention of Money Laundering Act (PMLA), covering the premises of suspects linked to the case.
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The entities covered in the search operation are Antriksh Promoters and Developers Pvt Ltd and Sunshine Infrawell Pvt Ltd, the officials said.
As per the officials privy to the development, the operation is aimed at gathering evidence related to the suspected financial irregularities and tracing the money linked to the alleged offence.
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The investigation relates to alleged fraud involving housing loans intended for Non-Resident Indians (NRIs), with forged documents allegedly used to obtain the loans.
The federal agency is investigating the alleged role of the entities involved in the money laundering as well as the amount of the suspected fraud.
In the search operation, the ED can provisionally seize documents and digital evidence, among other evidence believed to be proceeds of crime, subject to the provisions of the law. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)