New Delhi: The Enforcement Directorate (ED) on Thursday conducted raids at premises of former Ranbaxy group promoters Malvinder, Shivinder Singh in connection with a money-laundering case.

The agency officials told PTI that the raids were conducted after the filing of a case under the Prevention of Money Laundering Act (PMLA).

The action is being seen in the backdrop of charges of alleged financial irregularities against the two brothers and the subsequent downfall of their businesses.

In April, a Supreme Court bench led by Chief Justice of India (CJI) Ranjan Gogoi said it would send Malvinder and Shivinder Singh to jail for disobeying orders against paying dues to Japanese firm Daiichi Sankyo. “We will go into the issue – why you violated our orders. We will send you to jail. We have given you a chance but you are unable to pay,” the court had said to both the ex-owners of the pharma company.

On an earlier occasion, the court had restrained both the brothers and 12 others from selling or transferring their shares or any movable or immovable property as disclosed by them before the high court.

The case dates back to April 2016 when a Singapore tribunal had passed the award in Daiichi’s favour holding stating the brothers had concealed information that their company was facing a probe by the US Food and Drug Administration and the Department of Justice while selling its shares.