New Delhi, Mar 16 (IANS): Sources in the Enforcement Directorate (ED) said that they were conducting raids at the residential premises belonging to Franklin Templeton Asset Management (India) Pvt Ltd in connection with a Prevention of Money Laundering case.

The places where the ED is conducting search are said to be linked to Santosh Kamath, Chief Investing Officer-Fixed Income at Franklin Templeton Mutual Fund; Vivek Kudva, former head of Asia-Pacific (APAC) distribution; and his wife Roopa Kudva. According to information, Roopa is the head of Omidyar Network, India.

The firm has said that they will support the investigation agency in the probe and were willing to provide all the data and information sought by the anti-money laundering agency.

As of now the ED has not commented on the matter.

Sources said that the ED was examining account balance of the last three years of the firm. They were also seeking details of their whole business and foreign entities if any.