India, June 19 -- The Mumbai unit of Enforcement Directorate (ED) has seized assets, including fixed deposits and mutual funds worth around Rs.44 crore, and seized Rs.16.5 lakh in cash during search operations conducted on Tuesday at many places, including at the premises of politician and businessman JM Mhatre.

The ED operations are part of its money-laundering investigation into an alleged land fraud in Vahal village in Raigad district. Mhatre and others are accused of acquiring forest land illegally in 2005 by making duplicate entries in mutation records and, subsequently, surrendering the land to the National Highway Authority of India (NHAI) to receive Rs.52 crore in total as compensation. Mutation records are official documents whi...