{"id":102357,"date":"2023-05-04T10:45:00","date_gmt":"2023-05-04T05:15:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=102357"},"modified":"2023-05-04T10:44:18","modified_gmt":"2023-05-04T05:14:18","slug":"kerala-ed-raids-manappuram-finance-premises-on-laundering-charges","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/kerala-ed-raids-manappuram-finance-premises-on-laundering-charges\/","title":{"rendered":"Kerala: ED raids Manappuram Finance premises on laundering charges"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4011148521\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The Enforcement Directorate on Wednesday conducted searches at multiple premises linked to prominent Kerala-based non-banking financial company (NBFC) Manappuram Finance Ltd. as part of a money laundering investigation against it, official sources said.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2883080641\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The raids are being undertaken to gather pieces of evidence related to allegations that the company collected public deposits worth more than Rs 150 crore in contravention of Reserve Bank of India (RBI) guidelines, they said.<\/p><p>A total of four premises including the headquarters of the company in Thrissur and those of its MD and CEO V P Nandakumar were searched, they said.<\/p><p>The company said in a stock exchange filing that it was extending full cooperation to the agency.<\/p><div class=\"trade-content_5\" id=\"trade-1193513610\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>&#8220;The ED is conducting a search at our Registered Office. We are extending full cooperation to the Department, including providing complete information sought by them.<\/p><p>&#8220;As the search is ongoing, we will be able to provide more information on its completion. Manappuram Finance Limited has always adhered to the best practices in corporate governance and compliances,&#8221; the company said.<\/p><p>The agency, according to sources, suspects &#8220;large-scale&#8221; cash transactions by the company and is looking at gathering documents and recording statements of the company executives in this context.&nbsp; Some documents are understood to have been seized by the ED officials during the searches.<\/p><p>The company offers a string of products portfolio like online gold loan, micro-home finance, forex and money transfer, business loan, secured personal loan among others.&nbsp;<\/p><div class=\"trade-after-content\" id=\"trade-3284209330\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The Enforcement Directorate on Wednesday conducted searches at multiple premises linked to prominent Kerala-based non-banking financial company (NBFC) Manappuram Finance Ltd. as part of a money laundering investigation against it, official sources said. The raids are being undertaken to gather pieces of evidence related to allegations that the company collected public deposits worth more than [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":102358,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-102357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kerala: ED raids Manappuram Finance premises on laundering charges - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The Enforcement Directorate on Wednesday conducted searches at multiple premises linked to prominent Kerala-based non-banking financial company (NBFC) Manappuram Finance Ltd. as part of a money laundering investigation against it, official sources said.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/kerala-ed-raids-manappuram-finance-premises-on-laundering-charges\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kerala: ED raids Manappuram Finance premises on laundering charges\" \/>\n<meta property=\"og:description\" content=\"The Enforcement Directorate on Wednesday conducted searches at multiple premises linked to prominent Kerala-based non-banking financial company (NBFC) Manappuram Finance Ltd. as part of a money laundering investigation against it, official sources said.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/kerala-ed-raids-manappuram-finance-premises-on-laundering-charges\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-04T05:15:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/05\/Manappuram-Finance-cover-image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/05\/Manappuram-Finance-cover-image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/kerala-ed-raids-manappuram-finance-premises-on-laundering-charges\/\",\"url\":\"https:\/\/tradebrains.in\/features\/kerala-ed-raids-manappuram-finance-premises-on-laundering-charges\/\",\"name\":\"Kerala: ED raids Manappuram Finance premises on laundering charges - 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