The Enforcement Directorate (ED) recently raided the Karvy Stock Broking Limited (KSBL) offices in connection with the evasion of loans to banks and diversion of funds case.The ED officials raided the houses of Karvy CMD Parthasarathy and CEO Krishnahari in Hyderabad.
The ED officials have seized important documents related to money laundering.
KSBL CMD Parthasarathy has been arrested by the CCB (Central Crime Branch) police in connection with the fraudulent loan of hundreds of crores of rupees from Indusind Bank, HDFC and other banks.
The case was registered due to massive money laundering.
The court questioned CMD Parthasarathy for three days.
Five cases have been registered in the state against KSBL CMD Parthasarathy for allegedly defrauding banks.Cases have been registered in Maharashtra, Karnataka and Punjab.
The court issued directions allowing the Bangalore CCB (Central Crime Branch) to take the two other members into custody, including Karvy CMD Parthasarathy.The Karnataka Crime Branch police shifted the three to Bangalore.
CCB police, who will be investigating for three days, began the investigation on Wednesday.Currently, the police are investigating the three.The investigation continues for two more days.
