https://www.taxtmi.com/news?id=50336 Searches under the Prevention of Money Laundering Act followed an FIR alleging that group entities diverted sanctioned loan funds by successive subcontracting at lower values, routed diverted funds into a group company which then infused them as promoters' contribution, and thereby concealed use of bank disbursements. Searches yielded financial and property documents, properties in promoters' and family members' names, and resulted in freezing of multiple bank accounts; further investigation into alleged money laundering and related offences is in progress. en-us Wed, 23 Jul 2025 22:16:03 +0530 Wed, 23 Jul 2025 22:16:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=50336 Searches under the Prevention of Money Laundering Act followed an FIR alleging that group entities diverted sanctioned loan funds by successive subcontracting at lower values, routed diverted funds into a group company which then infused them as promoters' contribution, and thereby concealed use of bank disbursements. Searches yielded financial and property documents, properties in promoters' and family members' names, and resulted in freezing of multiple bank accounts; further investigation into alleged money laundering and related offences is in progress. News - Wed, 23 Jul 2025 22:16:03 +0530 https://www.taxtmi.com/news?id=50336