ED conducts search at Mantri Developers

Bengaluru: The Enforcement Directorate (ED) officials on Monday conducted searches at the Mantri Developers office and also at chairman Sushil Mantri's residence in Bengaluru over a money laundering case.

About 10 officials from the ED’s Delhi headquarters examined documents at the company's office on Vittal Mallya Road, and other premises. The ED is also probing allegations that funds collected from customers for apartment projects had been diverted and invested overseas.

The searches were carried out under the provisions of the Prevention of Money Laundering Act (PMLA).


Mantri Developers has its headquarters in Bengaluru and has projects in Chennai, Hyderabad and Pune across residential, commercial, and retail segments.

The ED had earlier conducted searches in connection with the same case in 2022 and had attached properties worth Rs 300 crore as part of its investigation.