[Mumbai] Elections Are Over But ED Is Still On:IL&FS Searched
The Enforcement Directorate Wednesday carried out fresh searches in Mumbai in connection with its money laundering probe in the multi-crore IL&FS payment default crisis
The central agency had first carried out searches in this case in February after it filed a criminal case under the Prevention of Money Laundering Act (PMLA).
The debt crisis at the infrastructure lender came to light following a series of defaults by its group companies beginning September, 2018.
The crisis-ridden infrastructure conglomerate IL&FS group, once hailed as a pioneer of public-private partnership, has come under the scanner of multiple regulators, for alleged defaults related to financial disclosures and corporate governance.
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