Hyderabad, Apr 16 (UNI) Enforcement Directorate (ED) officials carried out raids on Surana Industries and its affiliated company, Sai Surya Developers, on Wednesday in Hyderabad.
According to sources, ED officials conducted searches at the residences of the Chairman and Managing Director of Surana Group, as well as the top officials of Sai Surya Developers. The raids were carried out at multiple locations, including Bowenpally, Secunderabad, Jubilee Hills, and Madhapur.
Surana Group had reportedly secured loans amounting to several thousand crores from a leading bank in Chennai. A case had already been registered by the Central Bureau of Investigation (CBI) against the group for alleged loan default and failure to repay the borrowed amount.
The ED is now believed to be probing recent financial transactions connected to the group as part of its ongoing investigation.
Further details are awaited.
UNI VV KK