IL&FS crisis: Enforcement Directorate conducts fresh raids in Mumbai


IL&FS crisis: Enforcement Directorate conducts fresh raids in Mumbai

The Enforcement Directorate Wednesday carried out fresh searches in Mumbai in connection with its money laundering probe in the multi-crore IL&FS payment default crisis, officials said.

They said the residences and offices of at least four directors of the firm are being raided. The central agency had first carried out searches in this case in February after it filed a criminal case under the Prevention of Money Laundering Act (PMLA). The searches are aimed at collecting additional evidences and documents, they said.

The debt crisis at the infrastructure lender came to light following a series of defaults by its group companies beginning September, 2018.  Read more

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