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.
