(INDIA TODAY): The Enforcement Directorate (ED) sleuths on Tuesday (16) conducted searches at the premises of production company LYCA — the makers of Ponniyin Selvan, over money laundering and tax evasion charges.
Search underway at eight locations including T Nagar, Adyar and Karapakkam.
According to sources, ED raid is said to be related to a FEMA charge against LYCA which also holds multiple brands including LYCA mobiles. PMLA charge has also been added.
The Enforcement Directorate (ED) is a law enforcement agency of the Government of India that is responsible for enforcing Economic Laws and fighting Economic Crime.
Lyca Production is also the company planning to buy Lanka Hospitals and Sri Lanka Telecom, and holds a subsidiary that holds the ownership of EAP Group, which owns Swarnavahini.
More details to follow..