India, July 12 -- The Enforcement Directorate (ED) has seized property-related documents worth Rs.200 crore and unaccounted cash of Rs.8 lakh after conducting searches at 15 locations across Mumbai and other cities in connection with a Rs.386.35 crore money laundering probe involving Talwalkars Better Value Fitness Limited (TBVFL), a prominent gym and wellness chain, and its promoters.

The central agency launched coordinated search operations on Wednesday across Mumbai, Pune, Goa and Chennai, under the Prevention of Money Laundering Act (PMLA). The searches were part of an ongoing probe into allegations that TBVFL defrauded Axis Bank and Laxmi Vilas Bank by misusing loans and manipulating financial records.

According to ED officials, th...