India’s Financial Crime Agency Raids Vuenow Infratech Over Money Laundering

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India’s Enforcement Directorate (ED) conducts searches at Vuenow Infratech offices and associated properties in connection with an alleged money laundering investigation, seizing assets worth millions.

India’s Enforcement Directorate carried out searches at the premises of Vuenow Infratech and its affiliates, including the residence and business addresses of the company’s director, Rahul Anand Bhargav. The operations, conducted across multiple states including Punjab, Haryana, and Maharashtra, are part of an ongoing investigation into alleged money laundering activities linked to the company.

The ED reported seizing assets totaling 737.2 million rupees (approximately $8.4 million). The confiscated items include cash, electronic devices, documents, shares, and immovable property. The agency also took control of Vuenow Infratech’s main data center in Bhiwadi, Rajasthan, valued at 92.5 million rupees.

In a statement to stock exchanges, Vuenow Infratech acknowledged the ED’s actions and confirmed that Bhargav’s demat account has been frozen, preventing any debit transactions. The company is assessing the operational impact of the seizures and cooperating with authorities.

Vuenow Infratech operates in IT solutions and consulting, offering services to various industries. The ED’s intervention is part of the Indian government’s efforts to enforce financial regulations and investigate alleged violations within the corporate sector. The investigation remains active, and further details about the alleged money laundering activities are expected as the process continues.

Officials stated that the seizure of the data center may temporarily affect Vuenow Infratech’s IT operations and consulting services. The immediate operational implications are being assessed.

Corporate stakeholders and clients of Vuenow Infratech are monitoring developments to understand potential operational and financial consequences.

The Enforcement Directorate’s actions reflect India’s ongoing efforts to enforce regulatory compliance and maintain transparency in the corporate sector. The outcome of this case will be determined through legal procedures and may guide future regulatory enforcement.