ED acting on ‘malafide’ FIR related to 10-yr-old case: Manappuram Finance
Manappuram Finance CEO, VP Nandakumar
A day after the Enforcement Department officials visited the premises of Manappuram Finance Ltd, VP Nandakumar, Managing Director and CEO of the company stated that the ED’s visit had nothing to do with the company’s business affairs and was based on a false FIR information file submitted by someone who bore a personal grudge against him and his family.
The Enforcement Department (ED) has conducted searches at six premises in Thrissur belonging to M/s Manappuram Finance Limited and its managing director VP Nandakumar under PMLA, 2002 on allegations of money laundering from illegal collection of deposits from the public, according to the statement.
VP Nandakumar explained that the ED’s visit to the company’s headquarters had nothing to do with Manappuram Finance’s business affairs and was based on a false FIR report filed by a person who bore a personal grudge against him and his family.
He said, “The case is related to the now defunct Manappuram (Magro) Agricultural Farms which was 10 years old.”
He also clarified that the total value of shares attached to the ED is around Rs 2,000 crores, not around Rs 140 crores as stated.
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First published: May 06, 2023 | 8:25 a.m ist