146 Kg Gold Jewellery Worth Over Rs 82 Crore Of Hyderabad Group Seized2Photo© hindustantimes.com

146 Kg Gold Jewellery Worth Over Rs 82 Crore Of Hyderabad Group Seized

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About 146 kg of gold jewellery worth over Rs 82 crore has been seized by the ED after it raided the premises of a Hyderabad-based jewellery group and its associates in connection with a post demonetisation money laundering case, the agency said today.

It said the searches were conducted at the showrooms of Musaddilal Jewellers at Hyderabad and Vijaywada, its promoter Kailash Gupta, a company named Balaji Gold and its partner Pavan Agarwal, another company Ashta Laxmi Gold, its proprietor Neel Sunder Tharad and chartered accountant Sanjay Sarda over the last few days.

"For tracing the proceeds of crime, simultaneous searches were conducted in the premises of the accused persons which resulted in the seizure of 145.89 kg of gold jewellery worth Rs 82.11 crore," the Enforcement Directorate said in a statement.