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ED files prosecution complaint in demonetisation scam ANI | Updated: Jun 01, 2021 20:07 IST
New Delhi [India], June 1 (ANI): The Directorate of Enforcement (ED) has filed a prosecution complaint in the infamous demonetisation scam in which cash of approximately Rs 111 Crore was deposited immediately after the announcement of demonetisation on November 8, 2016, by the firms of Kailash Gupa, Nitin Gupta and Nikhil Gupta.
On the basis of an FIR registered by Telangana State Police, Hyderabad, the ED initiated a money-laundering investigation against M/s Musaddilal Gems and Jewels Private Limited, M/s Vaishnavi Bullion Private Limited, M/s Musaddilal Jewellers Private Limited, and others.
HyderabadAndhra-pradeshIndiaTelanganaNew-delhiDelhiKailash-guptaNitin-guptaNikhil-guptaKailash-gupaBank-accounts-of-musadilal-groupVaishnavi-bullion-privateUpdated:
Accused of depositing demonetised notes to the tune of ₹111 cr. in bank accounts
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The accused had raised fake cash receipts and sale invoices showing 6,000 fictitious customers visited their showrooms to purchase gold jewellery after the announcement of demonetisation on November 8, 2016. | Photo Credit:
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Accused of depositing demonetised notes to the tune of ₹111 cr. in bank accounts
Enforcement Directorate has attached assets worth ₹130.57 crore, including 41 immovable properties of M/s Musaddilal Gems and Jewels Private Limited and others involved in demonetisation scam.
Officials said the assets include movable properties in the form of stock in trade ₹18.69 crore and investments made in the stock market in the form of shares ₹0.63 crore. The attachment also included gold jewellery, bullion and ornaments seized during the earlier searches which are valued at ₹83.30 crore.
HyderabadAndhra-pradeshIndiaKailash-guptaSanjay-sardaKailash-chand-guptaVaishnavi-bullion-privateJewels-privateJewels-pvt-ltdMusaddilal-jewellers-pvt-ltdHyderabad-policeEnforcement-directorate