The Enforcement Directorate on Wednesday conducted searches at multiple premises linked to non-banking finance company Manappuram Finance in Kerala as part of a money laundering investigation against it, official sources said.
They said the raids are being undertaken to gather evidence related to allegations of the company collecting public deposits worth over Rs 150 crore in contravention of Reserve Bank of India guidelines.
A total of four premises, including the headquarters of the company in Thrissur and those of its promoters, are being searched, they said.
An email sent to the company did not elicit an immediate response.
According to sources, the agency suspects 'large-scale' cash transactions by the company and is looking at gathering documents and recording statements of the company executives in this context.
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