Indore- Madhya Pradesh: The Enforcement Directorate (ED) raided the residences of leading realtors of Indore today, May 11, early morning over alleged money laundering.
More than 15 officials of the Enforcement Directorate launched the action at the residence of realtors Surendra Sanghvi, Manish Shahara and Deepak Madda. The action is being carried out at Pragati Vihar Colony, near Bichholi area of the city, where residences of Surendra Sanghvi and Manish Shahara are located. The erd location is residence of Deepak Madda, which is located in Gulmohar Colony.
It is said, Madda and Sanghvi are already facing the action from District Administration in the land fraud cases. The trials of the case are going on in the courts.
Reports suggests that all 3 people namely, Sanghvi, Madda and Shahara are involved in real estate business and land dealings from over 15 years back, wherein the deals are being made in black money. Through the real estate business they were indulged in money laundering.
Enforcement Directorate's action is likely to continue for two more days. The officials expect to unearth the records of black money transactions as the searches advance during the day.
Kerala train arson attack case: NIA conducts raids in Shaheen Bagh