The searches began early in the morning and were based on certain inputs, according to officials. A farmhouse in Karjat, Maharashtra, is also being covered as part of the ongoing operation.
A key person associated with the group, a Mumbai-based consultant and businessperson, is under the ED's radar in the case, officials close to the investigation said.
According to the officials, the company and its directors have allegedly received large sums of foreign exchange from suspicious companies based in Dubai and Singapore.
"Evidence has been found indicating that the director incorporated companies by appointing his own employees and dummies as directors," the officials said.
The agency's officials further stated that within a year of incorporation, these companies received hundreds of crores of rupees, which were subsequently layered through multiple shell entities.
"Foreign currency, Indian currency, and valuables worth several crores of rupees have been found so far," the officials added.
The searches across Mumbai, Delhi and Karjat are part of the ongoing investigation into the alleged foreign exchange transactions and the movement of funds through multiple entities. The findings so far include foreign and Indian currency, along with valuables worth several crores of rupees, as the agency examines the activities of the company and its associated individuals.
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