New Delhi, Nov 4, 2025

The ED conducted searches at multiple locations in Mumbai as part of investigations against a company that duped investors after providing false assurances to set up data and digital learning centres in small towns, an official said on Tuesday.

The Enforcement Directorate (ED), Headquarters Investigation Unit, New Delhi, conducted the search operations on October 29 against Varanium Cloud Ltd, its promoter Harshavardhan Sabale and other associated entities.

It was alleged that Varanium Cloud raised about Rs 40 crore through their September 2022 IPO, claiming it would be used to set up edge data centres and digital learning centres in smaller towns.

The company projected itself as a fast-growing technology firm in the fields of digital media, blockchain, and EdTec

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