Money Laundering Probe: Raids Conducted at Businessmen’s Residences and Himalayan Reinsurance Office
Authorities have seized key documents and electronic devices during coordinated raids at the residences of two businessmen and a major reinsurance company.
The Department of Money Laundering Investigation has carried out coordinated raids at multiple locations as part of an ongoing investigation into financial crimes.
Search operations were conducted at the residences of businessman Sulav Agrawal and Deepak Bhatt, as well as the central office of Himalayan Reinsurance Limited.
During the raids, officials seized important documents and electronic items, including mobile phones and CPUs, believed to be relevant to the investigation.
Authorities stated that the operation aimed to collect evidence related to alleged money laundering offenses. The raids were conducted simultaneously at three locations.
Earlier, Bhatt was arrested on Chaitra 19 and Agrawal on Chaitra 21. Both individuals are currently in custody, with their detention extended for further investigation.
Agrawal is associated with Jagadamba Holdings under the Shankar Group, while Bhatt is the head of Infinity Holdings.