ED raids on Manyata Group

NT Correspondent

Bengaluru: The Enforcement Directorate (ED) conducted raids on the various offices and residences belonging to real-estate major Manyata Group in the city on Wednesday. The raids began early in the morning as ED officials cracked down on a residence near Sadashivanagar.

As per sources, the house belonged to one of the top executives of the firm. Later, raids were also carried out at other locations in the city, including the firm’s central office near Richmond Road, and relevant documents related to the group’s businesses and investments, including those abroad, were verified by the cops.

Offices including Manyata Promoters, Manyata Project Private Limited, Reddy Veeranna Investments, Reddy Veeranna Constructions, Manyata Developers, Manyata Infrastructure Development Private Limited were reportedly raided.

The raids were carried out based on allegations of tax evasion and other irregularities in the real estate business, sources added. Further investigations and reports are underway