Officials of the Enforcement Directorate on Thursday raided city-based IT company and seized property worth Rs. 6.5 crore. The ED officials have also registered a case of money laundering against Nihal Ranjan Samathara, Director, Ignis Technologies, which expertises in aerospace engineering.
The raid was conducted following a CBI charge-sheet against the company for misusing the loan sanctioned by the United Bank of India. The company had used the amount to purchase properties including a residential building, two residential apartments and over 8 acres of agricultural land in Bengaluru. Apart from this, the company also got sanction for an industrial plot allotted by Odisha Industrial Development Corporation.
