ED conducts searches against Videocon group, promoters in money-laundering case

NEW DELHI: The ED conducted searches against the promoters of the Videocon group in Mumbai on Friday as part of a money-laundering probe linked to alleged siphoning of bank loan funds in connection with the financing of the oil and gas assets of the business house in Mozambique, official sources said.

They said the searches were being conducted at multiple premises of the group and its promoters.