The ongoing RFL money laundering case investigation of ₹ 2,000 crore taking new updates in the case. On late night Friday, The Enforcement Directorate (ED) conducted a raid at 9 offices including Religare Finvest Ltd, RHC holdings in Delhi NCR. There are other offices also the details are available below. Officials released a statement in the case. After that, there are several things you need to know about the case. The statement of a spokesperson is available below.
RFL Money Laundering Case News: ED Raids 9 Offices Late Night on 5th January 2024
On January 1, 2024, SEBI fined ₹21 crore on 52 entities under the Religare Finvest Fund Case. SEBI asked them to pay this fine within 45 days. Now, ED conducted a raid at the nine offices on Friday night. This might be a turning point in this money laundering case. Most probably, the initiated raid by the ED can help officials find the evidence and documents.
“Multiple cases have been initiated towards the same and various agencies are investigating these transactions. In a recent request made by RFL, ED was requested to expedite the ongoing investigations. ED officials conducted searches at various locations yesterday i.e. on 5.1.2024 to collect evidence which may he helpful in tracing the proceeds of crime. RFL has promised its lenders that they shall make all possible efforts to recover siphoned off funds and in line with the same, RFL has commissioned a forensic audit to trace assets/money trail,” the spokesperson said.
Now moving towards the impact of this ED raid on Religare Finevest Share Price. Currently, the share price is at ₹217 level. There is a chance that we can see some volatility in RFL Share Price in the next trading session on Monday, 8 January 2024. We hope that you find the latest update related to this money laundering case related to RFL. Read the latest business news on our website.