The Enforcement Directorate, on Wednesday, conducted searches at various premises of Manappuram Finance in Kerala, reportedly part of a money laundering investigations.

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Sources close to the development said the raids are being undertaken on Wednesday morning to collect evidence related to allegations of collecting public deposits to the tune of around ₹150 crore by the company flouting Reserve Bank of India guidelines. The searches were being conducted on various premises, including the headquarters of the company in Thrissur and those of its promoters.

When contacted, a company official neither denied nor confirmed ED searches.