As part of a money-laundering investigation, the Enforcement Directorate (ED) conducted searches at 13 locations across Delhi NCR, Bengaluru and Chandigarh to check alleged fraudulent housing loans intended for NRIs.

The searches, which took place under the Prevention of Money Laundering Act (PMLA), aimed at tracing money linked to the alleged fraud while gathering evidence of suspected financial irregularities.

The operation covered premises linked to Antriksh Promoters and Developers Pvt Ltd and Sunshine Infrawell Pvt Ltd.

The alleged use of forged documents to secure housing loans intended for NRIs is central to the offence. The ED is examining how the suspected fraudulent transactions were carried out and whether money linked to the alleged offence was laundered.

Documentary and digital evidence are vital to establishing the financial trail. Those evidences would also help determine the roles of the entities and individuals under scrutiny.

The ED, under provisions of the PMLA, may provisionally seize documents, digital records and other assets believed to represent proceeds of crime, subject to the applicable legal requirements.

Investigators are examining premises in different locations as part of the same case. – editor@nrifocus.com