What are the recent developments in the Religare Finvest funds diversion case
Providing an overview of the recent searches conducted by the Enforcement Directorate (ED) in the Religare Finvest funds diversion case.
Recent developments in the Religare Finvest funds diversion case include several searches conducted by the Enforcement Directorate (ED). Here is an overview of the recent searches:
- The ED conducted searches at various premises associated with Religare Finvest, including the office of the former chairman of Religare Enterprises, Sunil Godhwani.
- The searches were carried out as part of an ongoing investigation into the alleged diversion of funds from Religare Finvest.
- The ED's action comes after a complaint was filed by Religare Finvest against its former promoters, Malvinder and Shivinder Singh, and others, accusing them of siphoning off funds of around Rs. 2,397 crore.
- The searches aimed to collect documentary evidence related to the alleged diversion of funds and to ascertain the roles of individuals involved.
- During the searches, the ED seized various documents, books of accounts, electronic data, and other incriminating material.
- The investigation is ongoing, and further actions, including arrests and interrogations, may be taken based on the collected evidence.
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