KOCHI: The enforcement directorate (ED) on Thursday carried out raids at the office of Nedumparambil Credit Syndicate and the residence of its owner N M Raju in connection with suspected financial irregularities linked to the Sabarimala case.
A source said the Special Investigation Team (SIT) suspects that former Sabarimala thantri Kandararu Rajeevaru had deposited nearly Rs 2.5 crore with the private finance firm, which later shut down.
ED teams conducted simultaneous searches in Tiruvalla at the firm’s closed office and Raju’s house from 6 am. Investigators have raised concerns over the fact that Rajeevaru did not lodge any police complaint despite allegedly losing the money after the firm’s closure.
This, the source said, has triggered suspicion among both SIT and ED officers regarding the source of the funds.
Nedumparambil Credit Syndicate once operated multiple branches across the state before being shut down, leaving several investors without their deposits.