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New Delhi, February 2
The Enforcement Directorate has attached assets worth over Rs 130 crore of various Hyderabad-based jewellery houses and their promoters in a money laundering probe linked to alleged financial irregularities done during the 2016 demonetisation exercise, the agency said on Tuesday.
The action has been taken against Musaddilal Gems and Jewels Pvt Ltd, Vaishnavi Bullion Pvt Ltd and Musaddilal Jewellers Pvt Ltd, according to the Enforcement Directorate (ED).
The attached assets, include 41 immovable properties, investments made in shares and jewellery, and bullion worth Rs 83.3 crore, seized in raids conducted some years back. The total value of these properties is Rs 130.57 crore, it said.
ED attaches Rs 130-cr assets of Hyderabad-based jewellers in demonetisation case
NEW DELHI : The Enforcement Directorate has attached assets worth over Rs 130 crore of various Hyderabad-based jewellery houses and their promoters in a money laundering probe linked to alleged financial irregularities done during the 2016 demonetisation exercise, the agency said on Tuesday.
The action has been taken against Musaddilal Gems and Jewels Pvt Ltd, Vaishnavi Bullion Pvt Ltd and Musaddilal Jewellers Pvt Ltd, according to the Enforcement Directorate (ED).
The attached assets, include 41 immovable properties, investments made in shares and jewellery, and bullion worth Rs 83.30 crore, seized in raids conducted some years back. The total value of these properties is Rs 130.57 crore, it said.
Hyd: ED attaches assets worth Rs 130.57cr in demonetization scam case
By Mansoor| Updated: 1st February 2021 11:06 pm IST
Hyderabad: Directorate of Enforcement on Monday attached the movable and immovable assets worth Rs 130.57 Crore of Musaddilal Gems and Jewels Private Limited among others in a demonetization scam case.
In an official statement, ED informed that the agency had provisionally attached assets worth Rs 130.57 Crore including 41 immovable properties registered in the name of the various jewellers and others involved in the case and movable properties in the form of stock in trade (Rs 18.69 Crore) and investments made in the stock market in the form of shares (0.63 Cr) in demonetization scam case.
Updated:
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.
ED attaches assets worth Rs 130 57 Crore in a demonetizatio sanantoniopost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sanantoniopost.com Daily Mail and Mail on Sunday newspapers.