![ED seizes gold and silver price ₹47.76 crore in financial institution fraud case ED seizes gold and silver price ₹47.76 crore in financial institution fraud case](https://mynews24x7.in/wp-content/uploads/https://th-i.thgim.com/public/incoming/nq4ysp/article65891538.ece/alternates/LANDSCAPE_1200/PTI09_14_2022_000161B.jpg)
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![Enforcement Directorate officials display gold bars, seized after searching premises of Raksha Bullion and Classic Marbles in connection with a case against the company ‘Parekh Aluminex Ltd’ as part of a money laundering probe linked to an alleged bank loan fraud. Enforcement Directorate officials display gold bars, seized after searching premises of Raksha Bullion and Classic Marbles in connection with a case against the company ‘Parekh Aluminex Ltd’ as part of a money laundering probe linked to an alleged bank loan fraud.](https://www.thehindu.com/theme/images/th-online/1x1_spacer.png)
Enforcement Directorate officers show gold bars, seized after looking premises of Raksha Bullion and Classic Marbles in reference to a case in opposition to the corporate ‘Parekh Aluminex Ltd’ as a part of a cash laundering probe linked to an alleged financial institution mortgage fraud.
| Photo Credit: PTI
The Enforcement Directorate has seized 91.50-kg of gold and 340 kg of silver, price ₹47.76 crore, through the searches in reference to a cash laundering case in opposition to Parekh Aluminex Limited which has been accused of dishonest the banks to the tune of ₹2,296.58 crore.
During the probe, the company zeroed in on-premises having 761 lockers, three of which belonged to Raksha Bullion. “On operating the lockers, 91.50-kg of gold and 152-kg of silver were found in two lockers…an additional 188-kg of silver was also seized from the premises of Raksha Bullion,” stated the company.
The ED carried out searches on 4 premises belonging to Raksha Bullion and Classic Marbles. Earlier, it had connected belongings price ₹46.97 crore and ₹158.26 crore by two orders,” stated the company.
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