The Enforcement Directorate has registered a money laundering case to probe alleged financial irregularities in the Infrastructure Leasing and Financial Services (IL&FS).
The agency is conducting searches at six locations in the National Capital Region and Mumbai.
The ED has registered the case based on an FIR lodged by the Economic Offences Wing of the Delhi Police.
The police are investigating the allegations made by Ashish Begwani, a director with Enso Infrastructures. As alleged, the then directors of IL&FS Transportation Networks had approached him in mid-2010, with a business proposal.
Accordingly, Enso Infrastructures invested Rs.170 crore for taking over 15% shares of IL&FS Rail Limited, a Special Purpose Vehicle floated for the Gurgaon Metro project. However, the company later found out that the funds were allegedly being diverted.
It was also alleged that IL&FS Rail issued bogus contract works to inflate its expenses.
