ED Raids 17 Locations in Corporate Insolvency Case
MUMBAI: On Tuesday, the Enforcement Directorate (ED) conducted searches in Maharashtra and Delhi as part of an investigation into potential money laundering linked to alleged irregularities in a corporate insolvency resolution process, officials reported. Seventeen locations connected to Suraksha Asset Reconstruction Company Ltd (SARCL), Suraksha Realty Ltd, Khyati Realtors Pvt Ltd, their promoters, directors, employees, and a former YES Bank employee were searched in Mumbai, Khandala (Maharashtra), and Delhi. The companies were not immediately available for comment regarding the ED’s actions. The investigation centers on the purported fraudulent issuance of a loan by YES Bank to Mackstar Marketing Pvt Ltd,…