Chennai: The International Financial Services, Arles Mxent Associalts LLP, MARC Opportunity Development Limited, Accordience Business Services LLP under the many names they are running the Scam business by Mohan Babu, Janarthanan and Lakshmi Narayanan Sundaram.
Now Economic Offenses Wing has searching their house, office and their related 40 more locations under raid. Also acccording to the sources the founders, owners of these company likely to get arrest soon.
Subsequently, as expected by many, the operations of IFS have been called into question. Lakshmi Narayanan Sundaram, Janardhanan, Mohan Babu, and many others who ran the company have gone into hiding. Their cell phones are also switched off.
Most of their offices remain closed as many who were acting as benami agents have also gone into hiding. People who have trusted and ‘invested’ are nervously invading. But they turn around shocked to see only the locks hanging.
The Madras High Court yesterday directed the Tamil Nadu Police to register an FIR against the IFS Financial Institution by next Monday. This order has been issued in a case filed by Karthik from KK Nagar, Chennai.
Subsequently, the names of the political party points and policemen who were working in support of the IFS company have been coming out one after another causing shock.
Inspector Anandan of Katpadi Police Station, who was the subject of the same complaint, was moved to the waiting list last night. In this situation, following the order of the High Court, the Economic Offenses Division police have been conducting simultaneous raids at 21 locations related to IFS Financial Company since this morning. The check is also being conducted at the IFS office in Delhi.
Similarly, the head office in Vellore Katpadi, Arakkonam, Nemili, Kanchipuram and other offices are also being intensively searched. The house of Lakshmi Narayanan Sundaram in Katpadi VG Rao Nagar is also being searched. There are 2 guards in that house. More than five policemen entered the house and conducted a thorough search. At the same time, the Economic Offenses Wing police are actively engaged in nabbing the absconding IFS directors.