Continuing its crackdown on those involved in the Infrastructure Leasing & Financial Services (IL&FS) fiasco, the Enforcement Directorate (ED) has searched homes and business premises of at least four industrialists for alleged irregularities in loans taken by them from a financial subsidiary of the beleaguered company.
Rishi Agarwal, promoter of ABG conglomerate, C Sivasankaran of Siva Industries, Nikhil Gandhi, executive chairman of SKIL Infrastructure, and Viren Ahuja, promoter of Flemingo Geowork were searched by the ED.
The search operation was conducted at multiple locations, including Mumbai, Delhi and Chennai, at the residences and on the business premises of these four. The probe agency is learnt to have seized several properties, documents and papers in connection with the probe.
