As per the statement, raids were carried out at premises related to Raksha Bullion and Classic Marbles linked to the case against a company called Parekh Aluminex Ltd.
Mumbai: The Enforcement Directorate on Wednesday seized 431 kgs of gold and silver from secret lockers in connection with a bank fraud case. The gold and silvers, seized from a bullion company in Mumbai, are worth over Rs 47 crore.
As per the statement, raids were carried out at premises related to Raksha Bullion and Classic Marbles linked to the case against a company called Parekh Aluminex Ltd. It has also been reported that the ED has recovered some keys of secret private lockers from the premises of the bullion company.
According to the financial probe agency’s statement, while conducting a search at premises, it was found that the locker operation was being done without following proper norms. Additionally neither CCTV cameras were installed there nor is the register being maintained for in and out. It has also been reported that there were as many as 761 lockers of which three belonged to Raksha Bullion.
“During the search operation, 91.5 kgs of gold (bars) and 152 kg of silver was found in two lockers which were seized,” the statement said, adding that, “an additional 188 kgs of silver was also seized from the premises of Raksha Bullion.”
As per the complaint, the company allegedly cheated banks and took loans to the tune of Rs 2,296.58 crore and the money laundering case against it dates back to March, 2018.
The probe agency said that the money was routed to various accounts in the context of providing unsecured loans and investments. The same was not the purpose of taking the loans and there were no agreements in place for such transactions.
