ED conducts raid on Mantri Developers

Officials from the Enforcement Directorate conducted raids on the premises of Mantri Developers in Bengaluru on allegations of illegal money laundering. The ED teams carried out searches at the company’s office as well as the residence of its founder Sunil Mantri as part of an ongoing investigation under the Prevention of Money Laundering Act. Founded in 1999, Mantri Developers is a well-known real estate firm headquartered in Bengaluru and operates in cities such as Chennai, Hyderabad and Pune. The company has undertaken several residential, commercial and retail projects across these cities.

According to sources, more than 10 ED officials arrived from the agency’s Delhi office in around six vehicles early in the morning and began searching the company’s office located on Vittal Mallya Road as well as other related premises. Officials are currently examining financial documents and records linked to the firm’s transactions.

The agency has registered a case under the Prevention of Money Laundering Act and is reportedly scrutinising financial dealings connected to the company.