ED conducts searches at Manappuram Finance: Report
1 min read . Updated: 03 May 2023, 11:29 AM IST
Premium- ED conducts searches at Manappuram Finance, according to media report
ED conducts searches at Manappuram Finance, according to media report. Mint could not confirm the news developments independently.
According to a report by Business Today, the anti-money laundering agency conducted searches at multiple locations on premises linked to Manappuram Finance Limited group in Kerala’s Thrissur.
The ED officials also carried out searches at promoter VP Nandakumar's office and residence.
The ED conducted searches based on the allegations of illegal collection of deposits of more than ₹150 crore from the public without RBI's approval. The Kerala-based NBFC is also suspected of doing large-scale cash transactions by violating KYC norms.
(This is a breaking story. Kindly refresh the url for further development)
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less