Ed conducts raids at 17 locations in five states including Chandigarh under PMLA
Chandigarh News: The Enforcement Directorate has taken major action in the Parabolic Drug Case. The ED has conducted raids in five cities of the country. The ED raids are being conducted at 17 different locations. This action has been taken under the Prevention of Money Laundering Act.
Raids are being conducted at 7 places in Delhi, 3 places in Mumbai. Searches are also underway at seven locations in Panchkula, Ambala and Chandigarh in Punjab.
In this case, the company’s directors, promoters Pranav Gupta and Vineet Gupta are accused of bank fraud of Rs 16,000 crore. Both are also members of the founding committee of renowned Ashoka University.