ED conducts searches at multiple premises linked to Manappuram Finance

The Enforcement Directorate today 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 evidences related to allegations of collecting public deposits worth over Rs 150 crore by the company in contravention of Reserve Bank of India (RBI) guidelines.

A total of four premises, including the headquarters of the company in Thrissur and those of its promoters are being searched, they said.