The Economic Offences Wing of Tamil Nadu Police on Saturday conducted simultaneous searches at 11 different locations across the State, including in Coimbatore, Nilgiris, Salem and Chennai, as part of its probe into complaints of cheating from investors against Spice India Private Ltd and Akash Sruti Spice India Pvt Ltd — both non banking finance firms.
The managing director of one of the firms, Durairaj and his wife, were arrested by the EOW officials on Friday and remanded to judicial custody. There are similar cases registered against them in Rajagopalapuram police stations in Bengaluru, said a press note from EOW.
