NEW DELHI: The Enforcement Directorate (ED) on Saturday concluded its searches in a money laundering investigation linked to alleged diversion of funds worth more than Rs 2,000 crore from Religare Finvest Limited (RFL), official sources said.
The agency had launched the raids on Friday and searched nine locations in Delhi-NCR, including the corporate offices of RFL, M3M India Holdings, RHC Holding Pvt Ltd, Hillgrow Infrastructure Pvt Ltd, Dion Global Solutions and Prius commercial, the sources said.
The raids ended Saturday. Officials said "incriminating" documents, including digital evidence, were seized during the searches and large-scale proceeds of crime generated out of criminal activities have been identified.
RFL said in a regulatory filing that its current management had also complained to the ED for initiating a probe.
"Pursuant to Regulation 30 of the Listing Regulations, we wish to inform that the Enforcement Directorate officials, basis a complaint made by the present management of Religare Finvest Limited, wholly owned subsidiary company of Religare Enterprises Limited (REL/Company) and pursuant to the ongoing investigation with respect to Corporate Loan Book, collected relevant information/ documents on January 05, 2024 to expedite the investigation as per request made by RFL recently." "The information and documents as advised were provided/submitted to the officials of the authority," the company said in a statement.
The ED's money laundering case stems from a Delhi Police Economic Offences Wing (EOW) FIR and the federal agency had arrested ex-Fortis promoters Malvinder Mohan Singh and Shivinder Mohan Singh and CMD of Religare Enterprises Ltd. Sunil Godhwani.