Death of Dinesh Nandwana of Vakrangee during ED Raid Raises Questions on Search Procedures
Moneylife Digital Team 06 February 2025
Dinesh Nandwana, founder and chairman emeritus of Vakrangee Ltd, passed away last week during a search by the directorate of enforcement (ED) at his residence in Andheri (east), Mumbai. While ED clarified that Mr Nandwana's death is suspected to be from a heart attack, his death has caused a stir on social media. 
 
On 31 January 2025, a team from ED's Jalandhar office conducted searches at the office and residence of Mr Nandwana in an alleged money laundering investigation. "All necessary protocols and procedures were followed by officers in part of the searches, and our officers accompanied Mr Nandwana when he complained of unease," an official from ED told ThePrint.
 
Ravindra Chavan, senior inspector at MIDC police station in Andheri, told Indian Express that "He (Mr Nandwana) was rushed to the hospital but died before admission. Prima facie, it looks like he had a heart attack but we are awaiting the postmortem report to ascertain the exact cause of death."
 
Vakrangee, established in 1990, is known for its network of retail outlets serving underserved areas. The company mourned Mr Nandwana's passing, acknowledging his key role in its growth.
 
 
Calling the death of Mr Nandwana during the ED search an assault on citizen rights, Mohandas Pai, former chief financial officer (CFO) of Infosys and chairman of Aarin Capital, sought a relook into such practices.
 
"Searches without solid evidence is an assault on citizen rights. Needs relook," he posted on X. 
 
 
Senior counsel Vikram Chaudhari told Print that agencies, such as the ED, which deal with cases under highly powerful acts, such as the Prevention of Money Laundering Act (PMLA), need to be more humane and sensitive towards the people under investigation since there is a higher threshold for searches and investigations.
 
“There should be sensitisation of the department to bring more maturity, restraint and calmness instead of euphoria. An intensive investigation ought not to be a publicity exercise,” he added.
 
Comments
lyfdots
1 month ago
Fraud guy !

Pump and Dumped shares of Vakrangee during 2017-2018 and now they are doing the same shit with their demerged entity VL-E governance. Gullible investors were taken for a ride too much. Deserve to die.
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