Tuesday, May 21, 2019
News

ED seizes Rs 82 crore gold from Hyderabad jeweller

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi | Friday, 2019 1:45:05 AM IST
The Enforcement Directorate (ED) on Thursday announced seizure of 145.89 kg of gold (worth Rs 82.11 crore) from a Hyderabad-based jeweller in a money laundering case.

The ED searched jeweller Kailash Gupta's premises in Hyderabad and Vijayawada in a case registered against him under the Prevention of Money Laundering Act, 2002, it said in a release.

The Income Tax Department had registered an FIR with the Telangana Police against Gupta, his sons and their ventures -- M/s Musaddilal Gems and Jewellery, M/s Musaddilal Jewellers Pvt Ltd and M/s Vaishnavi Bullion Ltd -- for allegedly conspiring with bullion dealers, chartered accountants and relatives.

During the demonetisation process, huge amounts of banned cash was deposited in their bank accounts, the I-T complaint said. The Musaddilal Jewellers allegedly made Rs 110 crore transactions during the demonetisation.

During investigations, the ED found that Musaddilal Jewellers had created fake invoices in the names of 5,200 people on the day of demonetisation (8 November 2016).

--IANS aks/rs/pcj

( 172 Words)

2019-04-18-19:38:06 (IANS)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
Jodhpur: 4-year-old girl dies after fall...
Sitaram Yechury discusses agenda for Opp...
Mamata-Naidu meet over post poll strateg...
Fire breaks out at Andhra counting centr...
Be vigil near strong rooms, Priyanka tel...
Priyanka urges party workers not to beli...
More...    
 
 Top Stories
Chinese-made drones may be stealing... 
Markets surge: Sensex hits record h... 
Accounting firm ordered to handover... 
'Stranger Things' renewed for seaso... 
Reliance Industries displaces India... 
Onus on ensuring institutional inte... 
Tanushree Dutta discredits #MenToo ... 
Tariffs on shoes 'catastrophic': Sn...