Kerala: ED raids Manappuram Finance premises on laundering charges
New Delhi/Kochi, May 3 (PTI) The Enforcement Directorate on Wednesday conducted searches at multiple premises linked to prominent Kerala-based non-banking financial company (NBFC) Manappuram Finance Ltd. as part of a money laundering investigation against it, official sources said.
The raids are being undertaken to gather pieces of evidence related to allegations that the company collected public deposits worth more than Rs 150 crore in contravention of Reserve Bank of India (RBI) guidelines, they said.
A total of four premises including the headquarters of the company in Thrissur and those of its MD and CEO V P Nandakumar were searched, they said.
