India's financial crime fighting agency searches Vuenow Infratech premises (updated)

Ikoma Technologies

15/08/2025 11:23

Updates with company's response in paragraphs 4-6

Aug 15 (Reuters) - India's financial crime fighting agency searched the residential and business premises of Vuenow group of companies, including IT solutions firm Vuenow Infratech VUEN.BO, its director Rahul Anand Bhargav and other related people and entities, the agency said on Friday.

The search was conducted on Thursday in premises across Punjab, Haryana and Maharashtra states in connection with money laundering allegations related to the group, the Enforcement Directorate (ED) said in a post on X.

The agency said it has seized cash, electronic devices, "incriminating records", shares and immovable property worth 737.2 million rupees ($8.4 million).

Vuenow Infratech, which provides IT and consulting services, said in a statement to exchanges that the ED has seized its main Bhiwadi data centre, in Rajasthan state, worth 92.5 million rupees, which could impact its financial or operational activities.

The company is "trying to assess the extent" of the impact, it said.

Bhargav's demat account, used to hold and trade securities, has also been frozen for debit transactions, Vuenow added.

($1 = 87.4920 Indian rupees)

 (Reporting by Manvi Pant and Hritam Mukherjee in Bengaluru; Editing by Sonia Cheema)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))