The logo of Enforcement Directorate (ED).
Credit: PTI Photo
Bengaluru: The Enforcement Directorate (ED) has frozen Rs 11.25 crore following searches at eight locations in Bengaluru on February 29 and March 1.
The searches were conducted in locations belonging to the suspects — Vijaya R Tata and his associates RS Chandrasekhar, Muniraju K, D Nagendra Babu and Manjunath BS — under provisions of the Prevention of Money Laundering Act.
The raids were also held at the offices of related companies, namely Sanchaya Land & Estate Pvt Ltd, BCC Constructions Pvt Ltd, Akash Education and Development Trust, and SV Concrete Projects Pvt Ltd "in the case related to Sanchaya Land & Estate Pvt Ltd and others".
"During the search operations, the bank balance of Rs 11.25 crore has been frozen. Various documents related to immovable/movable properties worth Rs 120 crore (approximately) and digital devices were recovered and seized," the ED said.
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