The ED carried out searches at multiple premises of finance firm Manappuram Finance (Representational)
New Delhi:
The Enforcement Directorate today carried out searches at several premises linked to non-banking finance company Manappuram Finance in Kerala as part of its money laundering probe against it.
They said the raids are being conducted to collect evidence related to allegations that the company collected public deposits of over Rs 150 crore in violation of Reserve Bank of India (RBI) guidelines.
He told the Press Trust of India that a total of four premises, including the company’s headquarters and that of its promoters, are being searched in Thrissur.
An email sent to the company did not elicit an immediate response.
According to sources, the agency suspects “large scale” cash transactions by the company and is looking to collect documents and record statements of company officials in this context.
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