Indore: ED conducts early morning raids at residences of top realtors over black money

Indore: ED conducts early morning raids at residences of top realtors over black money

The officials expect to unearth the records of black money transactions as the searches advance during the day.

Staff ReporterUpdated: Thursday, May 11, 2023, 12:49 PM IST
article-image
FP Photo

Indore (Madhya Pradesh): The Enforcement Directorate (ED) raided residences of leading realtors of Indore on Thursday early morning over alleged money laundering.

Over 15 officials of the ED launched the action at the residence of
realtors Surendra Sanghvi, Manish Shahara and Deepak Madda.

The action is being carried out at Pragati Vihar Colony
located the Bichholi area of the city, where residences of Surendra Sanghvi and Manish Shahara are located. The third location is residence of Deepak Madda, which is located in Gulmohar
Colony.

Notably, Madda and Sanghvi are already facing the action from District
Administration in the land fraud cases. The trials of the case are
going on in the courts.

Reports suggests that all three-- Sanghvi, Madda and Shahara are
involved in real estate business and land dealings from over 15 years
back, wherein the deals are being made in black money. Through the
real estate business they were indulged in money laundering.

ED’s action is likely to continue for two more days. The officials expect to unearth the records of black money transactions as the searches advance during the day.

RECENT STORIES

Fake Firm, Fake Names, Real Fraud: ₹50 Lakh Loan Scam Busted

Fake Firm, Fake Names, Real Fraud: ₹50 Lakh Loan Scam Busted

CM Mohan Yadav Lays Foundation Stones Of Various Developmental Works In Ujjain

CM Mohan Yadav Lays Foundation Stones Of Various Developmental Works In Ujjain

Panchvati Vatikas To Come Up In All Gram Panchayats Of Indore District

Panchvati Vatikas To Come Up In All Gram Panchayats Of Indore District

A New Way To Give: QR Codes To Transform Beggars’ Lives

A New Way To Give: QR Codes To Transform Beggars’ Lives

Raja Murder Case: Flat Owner, Guard Get Bail

Raja Murder Case: Flat Owner, Guard Get Bail