<p>The Enforcement Directorate (ED) on Monday conducted raids at the offices of Indiabulls Finance Centre in Mumbai and Delhi in connection with a Prevention of Money Laundering case lodged against the company and its promoter Sameer Gehlaut in April 2021.</p>.<p>The ED had earlier recorded the statement of a Pune-based businessman, who deals in real estate, in this connection.</p>.<p>The ED officials held a meeting on Sunday to plan Monday's raid. Separate teams were formed to recover a few incriminating documents.</p>.<p>Earlier, a case was lodged against the company and its promoter at Palghar, Maharashtra. It had been alleged in the FIR that the real estate company first took a loan from India Bulls and invested in India Bulls housing shares. The company had increased the share value and the money were later siphoned off to other entities.</p>.<p>The Delhi High Court had issued an order barring the ED from taking coercive action against the company.</p>.<p>Further details are awaited.</p>.<p><strong>Watch latest videos by DH here:</strong></p>
<p>The Enforcement Directorate (ED) on Monday conducted raids at the offices of Indiabulls Finance Centre in Mumbai and Delhi in connection with a Prevention of Money Laundering case lodged against the company and its promoter Sameer Gehlaut in April 2021.</p>.<p>The ED had earlier recorded the statement of a Pune-based businessman, who deals in real estate, in this connection.</p>.<p>The ED officials held a meeting on Sunday to plan Monday's raid. Separate teams were formed to recover a few incriminating documents.</p>.<p>Earlier, a case was lodged against the company and its promoter at Palghar, Maharashtra. It had been alleged in the FIR that the real estate company first took a loan from India Bulls and invested in India Bulls housing shares. The company had increased the share value and the money were later siphoned off to other entities.</p>.<p>The Delhi High Court had issued an order barring the ED from taking coercive action against the company.</p>.<p>Further details are awaited.</p>.<p><strong>Watch latest videos by DH here:</strong></p>