Dentsu Aegis Network

Leading communications company Dentsu India Friday said the recent ED searches against it were related to a suspected fraud done by some "third parties" and this was "proactively" reported by it to the relevant authorities. The Enforcement Directorate had Thursday said in a press statement that it conducted raids on December 10 at multiple premises in Mumbai, Delhi and Gurugram as part of a probe in the "Suumaya-Dentsu case". The money laundering case stems from an FIR of the Mumbai police (Worli police station) against Dentsu Communications India Private Limited and Suumaya Industries Ltd, a textile group, and its promoters and some others. Dentsu India, in response to a PTI query, said they had, in 2021, identified "suspected fraudulent activity conducted by third parties and some of InDeed's former employees against whom criminal complaints have also been filed". "This activity was limited to the InDeed business only. Three years ago, we proactively reported the matter to the ..

Speculation was rife last year that Dias was looking to move on after the completion of his earn-out period.

The value of the deal has not been disclosed