India, June 17 -- The Enforcement Directorate on Tuesday raided 17 locations in Mumbai, Khandala and Delhi linked to Suraksha Asset Reconstruction Company Ltd (SARCL), Suraksha Realty Ltd and Khyati Realtors Pvt Ltd. The raids focused on the companies' promoters, directors, employees, and a former YES Bank official as part of a money-laundering investigation into suspected irregularities in loan assignments and corporate insolvency processes.

Officials said the investigation is examining the suspected fraudulent granting of loans by YES Bank, particularly to Mackstar Marketing Pvt Ltd, as well as other advances made in 2016-17 and 2017-18. Investigators are checking whether these loans were improperly assigned to asset reconstruction com...