The Enforcement Directorate (ED) on Friday, January 19, is conducting searches at the residence of a top official of Ocean Lifespaces India Private Limited, a Chennai-based realtor company. The searches are underway at the premises of Syvanus King Peter’s residence, who is the Managing Director and Chief Executive Officer of the company. According to reports, it is being conducted based on a case registered by the Central Crime Branch (CCB) of the Chennai Police against Syvanus.
Syvanus was booked by the CCB in August 2023 based on a complaint filed by one Balasubramanian Sriram alleging that the realtor company promoters allegedly cheated him of money. The company moved the Madras High Court seeking to quash the case, but the court refused to do so and ordered an investigation in December 2023. The court, when doing so, observed that the it was “a matter of very serious nature and to be probed by a specialised agency.”
Earlier, it was alleged that the police were involved with the complainant and extorted money from Syvanus.
Based on the court’s direction, the CCB continued the probe and the ED is conducting searches. However, Syvanus moved the Supreme Court after the HC order and the apex court stayed the HC order earlier this week.