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ED raids residences of former Ranbaxy CEO Malvinder Singh, brother Shivinder Singh

The Enforcement Directorate (ED) is conducting raids at the residences of former Ranbaxy CEO Malvinder Singh and his brother Shivinder Singh.

twitter-logo BusinessToday.In        Last Updated: August 1, 2019  | 18:03 IST
ED raids residences of former Ranbaxy CEO Malvinder Singh, brother Shivinder Singh
The Enforcement Directorate (ED) is conducting raids at the residences of former Ranbaxy CEO Malvinder Singh and his brother Shivinder Singh.

The Enforcement Directorate (ED) Thursday conducted raids at the residences of former Ranbaxy CEO Malvinder Singh and his brother Shivinder Singh. The probe agency carried out the searches in connection with a money-laundering case.

According to ED officials, the raids were conducted after a case was filed under the Prevention of Money Laundering Act (PMLA). The move comes amid the charges of alleged financial irregularities against the Singh brothers and the subsequent downfall of their businesses.

(This is a developing story. Will be updated soon.)

(With inputs from agencies.)

Also Read:Singh brothers case: Shivinder drew Rs 9 crore salary during 'retirement'; misled SC about 'Sanyaas'

Also Read:SC gives Singh brothers two weeks to come up with plan to pay Rs 3,500 crore to Daiichi Sankyo

Also Read:Daiichi-Ranbaxy row: Delhi HC freezes bank accounts of Malvinder Singh, Shivinder Singh

Also Read: Singh brothers get a breather from top court

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