New Delhi, Sept. 4 -- The Enforcement Directorate (ED) today said it recently conducted search operations at various places in a Prevention of Money Laundering (PMLA) case linked to Arvind Remedies Ltd for allegedly cheating a consortium of banks to the tune of Rs 637 crore.
The action was initiated by its Chennai zone office. The operations continued till September 3. A senior ED official said the search operations covered premises of promoters, dummy directors and key persons at Chennai, Kancheepuram, Goa, Kolkata and Mumbai.
The ED initiated investigations under PMLA based on the FIR registered by the CBI. The FIR was registered based on the complaint of Punjab National Bank (PNB) wherein it was alleged that Arvind Remedies Ltd and its...