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Monday, Nov 18, 2019

Former Ranbaxy promoters raided by ED in money laundering case

Raids were conducted after the filing of a case under the Prevention of Money Laundering Act (PMLA), ED officials said.

india Updated: Aug 01, 2019 15:11 IST
Press Trust of India
Press Trust of India
New Delhi
Former Ranbaxy promoters Malvinder Mohan Singh and Shivinder Mohan Singh have been raided by the ED.
Former Ranbaxy promoters Malvinder Mohan Singh and Shivinder Mohan Singh have been raided by the ED.(HT File Photo)
         

The Enforcement Directorate (ED) on Thursday raided the premises linked to erstwhile Ranbaxy promoters, Malvinder Mohan Singh and Shivinder Mohan Singh, in connection with a money-laundering case, agency officials said.

They said the raids were conducted after the filing of a case under the Prevention of Money Laundering Act (PMLA).

The action is being seen in the backdrop of charges of alleged financial irregularities against the two brothers and the subsequent downfall of their businesses.

(The story has been published from a wire feed without any modifications to the text, only the headline has been changed)