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Mannapuram FinanceEnforcement Directorate on Wednesday conducted multiple searches in the premises of Mannapuram Finance Limited , a non Banking  institution in Kerala in connection with a money laundering investigation .

As per the reports the officials said that they are  gathering evidences related to allegation of collecting crores of Rupees from Public deposit worth over 150 Crores in Contravention with Reserve Bank of India Guidelines .

A total of four premises were raided including the head quarters of the company in Thrissur in Kerala and those of its promoters are being searched.

An Email weals sent earlier to the company but they did not elicit an immediate response and hence the raids were conducted.

ED suspects large scale cash transactions by the company and is looking at gathering documents and recording statements from the company executives in this regards.

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