NEW DELHI: Enforcement Directorate (ED) on Thursday conducted raids at multiple locations, including the residences of former Ranbaxy CEO Malvinder Singh and his brother Shivinder Singh in connection with a money laundering case.
Sources in ED officials said that the searches were initiated after a case was registered against the Singh brothers under the Prevention of Money Laundering Act (PMLA)
"ED is carrying out raids at multiple places in New Delhi including the residence of Ranbaxy promoters Shivinder Singh and Malvinder Singh and a Hawala operator. The entry operator’s residence is also being raided," officials added.
Officials said that it is relating to the alleged siphoning of Rs 6,300 crore, which the brothers claimed that they were duped by a "baba".