Deepak Cables booked under PMLA, ED conducts searches
BENGALURU: The Directorate of Enforcement (ED), Bengaluru Zonal Office searched different premises of persons and entities related to Deepak Cables (India) Ltd (DCIL) on May 21 and 29 in a case related to cheating of a consortium of banks to the tune of Rs 899.35 crore.
During the search operations, incriminating documents belonging to DCIL, K Venkateswara Rao, director of DCIL, Mahesh Agarwal (Kolkata), director of Adhunik Corporation Ltd, and others were seized under provisions of the PMLA, 2002.
