The Enforcement Directorate on Thursday conducted searches on various premises of realtor EMAAR MGF for alleged violation of foreign currency exchange norms. <br/><br/>Officials have reportedly recovered some cash. Searches are still on at both the group's offices and at the residences of the promoters in the capital and at other places. <br/>EMAAR MGF is a joint venture between Dubai-based EMAAR Properties and India's MGF Development and, among others, is building the Commonwealth Games village in Delhi. <br/><br/>The searches come at a time when the group is planning to raise 3,850 crore rupees through an Initial Public Offer.<br/><br/><br/>