The Enforcement Directorate (ED) conducted raids at five locations in Mumbai in connection with a fraud of Rs 133 crore.
Raids carried out
The case was initially registered in 2019 at Bhuvanwada police station, and later, the ED filed an ECIR in the year 2022. The raids were carried out at the premises of businessman Mansukhlal Gala and his CA.
Company formed with 50-50 per cent partnership
According to the ED's ECIR, Mansukhlal Gala and Arvind Shah formed the construction company SB Developer and were partners with a 50-50 per cent share in the company.
Allegations of forging documents
Arvind Shah alleges in his complaint that in the year 2019, Mansukhlal Gala, along with his CA, conspired and, using forged documents, reduced his share from 50 per cent to 24 percent in the company.ED Seizes Assets Worth Over ₹45 Cr In Mumbai & Chennai Raids Linked To Alleged ₹129 Cr Money Laundering Case 2023-12-06T10:13:07Z dg43tfdfdgfd