On Wednesday, the ED (Enforcement Directorate) has conducted raids at multiple locations in having links with IL&FS payment default crisis, said the officials.
It continued that the central investigating agency has filed a case under the Prevention of Money Laundering Act (PMLA), accused of payment default case and raids started against executives connected to the ILFS (Infrastructure Leasing and Financial Services).
IL&FS has defaulted on loan payments to SIDBI and with subsidiaries has a combined debt of around Rs. 91,000 crores.
The debt crisis at the infrastructure lender came to focus, which followed a series of defaults by its group companies started in September 2018.
IL&FS is standing on a debt of about Rs. 91,000 crores.
Further business news and the latest investment news are awaited.