ED Cracks Down on Suspected Shell Firms, Freezes ₹204 Cr in Fresh Raids; Total PoC Hits ₹391 Cr
Chandigarh/Noida, July 4:
Tightening its grip on money laundering networks, the Enforcement Directorate (ED) carried out massive search operations at the premises of three suspected shell companies in Noida and Lucknow on July 4, 2025. Acting under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, the ED raided the offices of M/s Kindent Business Solutions Pvt. Ltd., M/s Rainet Technology Pvt. Ltd., and M/s Mool Business Solutions Pvt. Ltd.
During the searches, the agency uncovered a complex web of financial transactions and, with the help of bank confirmations, froze 135 bank accounts linked to these entities.
The fresh crackdown has led to the freezing of Proceeds of Crime (PoC) worth ₹204 crore, bringing the total amount frozen in this case to a staggering ₹391 crore.
ED officials said the companies were allegedly being used as shell entities to funnel and layer illicit funds. The investigation is still ongoing, with the agency continuing to track the money trail and identify.
