The ED said it found evidence of money laundering and large-scale cash transactions in the form of public deposits by Nandakumar through his firm without the RBI's approval.
The Enforcement Directorate (ED) on Thursday said it recently conducted searches at six premises in Thrissur, Kerala, belonging to Manappuram Finance Limited and its Managing Director V.P. Nandakumar and froze Rs 143 crore lying in various .
Get latest articles and stories on India at LatestLY. The Enforcement Directorate on Thursday said it has frozen assets worth Rs 143 crore of prominent Kerala-based NBFC Manappuram Finance Ltd s MD and CEO V P Nandakumar after it conducted raids as part of a money laundering investigation. India News | ED Freezes Rs 143-crore Assets of Manappuram Finance MD & CEO in Money Laundering Case.