ED raids properties in Hyd, Mum in Rs 82 cr Taksheel IPO fraud case

The Enforcement Directorate conducted searches on Taksheel Solutions Limited in an Rs 82 crore IPO fraud case. The searches were carried out in Hyderabad and Mumbai based on an ECIR registered with the investigating agency. The company is accused of suppressing vital information and making factually incorrect statements in its IPO prospectus. A probe by SEBI found that Taksheel Solutions had siphoned off and diverted the IPO proceeds for dealing in the company’s shares on its listing day.