HYDERABAD: The Enforcement Directorate (ED) conducted early morning raids on Wednesday at various locations in Hyderabad in connection with alleged money laundering and illegal foreign fund transfers involving the Surana Group.
The searches were carried out simultaneously at properties belonging to Surana Group Chairman Narender Surana and Managing Director Devender Surana. Raids took place at their residences and offices located in Secunderabad, Boinpally, and Jubilee Hills.
Sources indicated that the ED launched the operation following allegations of laundering funds and transferring money abroad. However, full details of the case and the extent of the alleged financial irregularities are yet to be disclosed.
The searches, which began at dawn, continued through the morning as ED teams inspected documents and digital records. The enforcement action has caused a stir in the city’s business and industrial circles.
The Surana Group is known for its prominent presence in the metals and energy sectors, and the ongoing investigation is expected to shed more light on the nature of the alleged financial violations. Further updates are awaited from official sources.
