ED raids German company’s Indian subsidiary in case of alleged fraud fraud involving Rs 130 crore

The Enforcement Directorate has frozen over Rs 9 crore in bank deposits and financial investments as part of a money laundering investigation involving former employees of HUF India Pvt Ltd. Allegedly, they diverted Rs 139 crore from the company between 2010-2020. Searches were carried out in Pune, Maharashtra, and Delhi-NCR.