Mumbai: The Enforcement Directorate conducted searches at nine locations while investigating a money laundering case against Sai Group of Companies, its promoter Jayesh Tanna and others. The agency stated that the construction firm and its associates had defrauded flat buyers of more than Rs 72 crore.
The searches yielded documents detailing unlawfully acquired land parcels, bungalows and flats in state, along with other assets within and outside India, owned by the Sai Group of companies and associated entities. The ED discovered evidence showing attempts by the Sai Group’s promoters to dispose of assets that were prima facie considered proceeds of crime.
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VijayV Singh