ED searches premises of Mumbai firm ‘linked to’ Nawab Malik’s son

The Enforcement Directorate (ED) is investigating a Rs 150-crore money laundering case against a city-based company, Associate High Pressure Technologies Pvt Ltd, that has allegedly diverted bank loans to a company linked to NCP leader Nawab Malik’s son Faraz Malik. The agency on Monday searched five premises in Mumbai and Gujarat linked to the promoters of Associate High Pressure for defaulting on loan repayment to the Union Bank of India. The ED has alleged that of the Rs 150 crore, Associate High Pressure has diverted about Rs 10 crore to…

Read More