New Delhi: The embattled Infrastructure Leasing and Financial Services (IL&FS) slipped into further crisis on Wednesday when the Enforcement Directorate (ED) registered a money laundering case and raided several establishments of the cash-strapped company located in Mumbai, Delhi and Gurugram.

The ED led search operations on a total of six locations associated with the company. The case has been registered under the Prevention of Money Laundering Act (PMLA) and, among others, ex-chairperson G Parthasarthy has been made accused.

The infrastructure lending company is sitting on a huge debt of over Rs 91,000 crore. The financial crisis of the company had come to light in September 2018 when its sister concerns started defaulting on loans.

According to reports, the Serious Fraud Investigation Office (SFIO) has already submitted a report on the supposed financial irregularities that the company is mired into. The report had suggested that the individual assets of the management should be looked into under the diktats of the Companies Act and had found prima facie evidence of personal enrichment, suppressed reporting of income and murky transactions.

The 30-year-old company had sent the markets, individual investors and the government in a tizzy when it started defaulting on its debts repayments. The company went short of money as several of its infrastructure projects in roads and ports had been experiencing cost-overruns.