The Enforcement Directorate (ED) conducted raids at the offices of Indiabulls Finance Centre in Mumbai and Delhi in connection with a Prevention of Money Laundering case lodged against the company and its promoter Sameer Gehlaut in April 2021.

The ED had earlier recorded the statement of a Pune based businessman who deals in real estate, in this connection. The ED officials held a meeting on Sunday to plan Monday's raid. Separate teams were formed to recover a few incriminating documents.