ED raids 4 locations in Mumbai: 91.5 kg gold and 340 kg silver found in private lockers
ED raids 4 locations in Mumbai: 91.5 kg gold and 340 kg silver were found in private lockers, loan of Rs 2,296 crore was taken from the bank
The Enforcement Directorate (ED) on Wednesday raided four locations of Mumbai-based company M/s Raksha Bullion and M/s Classic Marbles. The investigating agency seized 91.5 kg of gold and 340 kg of silver in the raid. Its price is being said to be around 47.76 crores. ED officials had raided these locations in the ongoing money laundering case against M/s Parekh Aluminex Ltd.
During the raid, the keys of some secret private lockers were found on the premises of the bullion company. Upon search of the private lockers, it was found that the locker was being used without following the rules. No KYC was followed in it. Nor was there any CCTV camera on the premises.
761 lockers were found on the premises, out of which three were of defence bullion. 91.5 kg of gold was seized from one locker and 152 and 188 kg of silver from two different lockers. The money laundering case against Parekh Aluminex Limited is going on since March 2018. The company was accused of taking a loan of Rs 2,296.58 crore by lying to the banks. In 2019, assets worth more than 205 crores have also been attached in this case.
The ED claimed that this money was withdrawn by Parekh Aluminex Limited by layering through several companies. Not only this, but the company also sent money for investment to many accounts. But no agreement was made for such transactions.