The Enforcement Directorate (ED) reportedly conducted search operations at multiple locations across Mumbai in connection with its ongoing investigation against M/s Varanium Cloud Ltd., its promoter Harshavardhan Sabale, and other associated entities, official sources said on Tuesday.

The ED’s Headquarters Investigation Unit in New Delhi carried out the searches based on credible intelligence indicating large-scale manipulation of financial records, circular fund movements, and suspected laundering of proceeds of crime, they said.