NEW DELHI: The Enforcement Directorate (ED) on Tuesday raids 17 premises in Mumbai, Khandala and New Delhi as part of a money laundering investigation into alleged irregularities in a corporate insolvency resolution process, said the agency adding that an asset reconstruction company suspected of colluding with Yes Bank officials to fraudulently seize stressed assets.
The federal probing agency carried out raids at the premises linked to Suraksha Asset Reconstruction Company Ltd (SARCL), Suraksha Realty Ltd, Khyati Realtors Pvt Ltd, their promoters, directors and employees, and a former YES Bank employee.
The investigation centres on the alleged fraudulent grant of a loan by Yes Bank to Mackstar Marketing Pvt Ltd and other accounts during…