The Enforcement Directorate has seized 91.50-kg of gold and 340 kg of silver, value ₹47.76 crore, in the course of the searches in reference to a cash laundering case towards 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,” mentioned the company.

The ED carried out searches on 4 premises belonging to Raksha Bullion and Classic Marbles. Earlier, it had connected property value ₹46.97 crore and ₹158.26 crore via two orders,” mentioned the company.