The Enforcement Directorate (ED) on Friday, October 23, conducted searches at 13 locations across Delhi-NCR, Bengaluru and Chandigarh in connection with a money laundering case relating to fraudulent NRI housing loans allegedly obtained using forged documents, officials said, ANI reported.

Source: ANI via DailyPrabhat — ED raids 13 places in fraudulent NRI housing loan case

The search operation began early in the morning in close coordination with police and other security forces under the Prevention of Money Laundering Act (PMLA), covering the premises of suspects linked to the case, ANI reported via Devdiscourse. The entities covered in the search operation are Antriksh Promoters and Developers Pvt Ltd and Sunshine Infrawell Pvt Ltd, the officials said.

13locations searched across Delhi-NCR, Bengaluru and Chandigarh
2entities named by officials — Antriksh Promoters and Sunshine Infrawell
PMLAthe law under which the searches were carried out

What the agency says it is tracing

According to officials privy to the development, the operation is aimed at gathering evidence related to the suspected financial irregularities and tracing the money linked to the alleged offence, Khelja reported from the ANI feed. The investigation relates to alleged fraud involving housing loans intended for Non-Resident Indians, with forged documents allegedly used to obtain the loans.

The federal agency is investigating the alleged role of the entities involved in the money laundering as well as the amount of the suspected fraud — officials have not yet disclosed any figure. During such searches, the ED can provisionally seize documents and digital evidence believed to be proceeds of crime, subject to the provisions of the law, ANI reported.

Allegations, not findings

A search is an investigative step. Everything above is what officials told the wire agency on Friday; no court has ruled on the allegations, and the reports carried no response from the two named entities.