Bhubaneswar (Odisha) [India], May 21 : Gold worth over Rs 1 crore was seized in the Enforcement Directorate (ED) search operations at eight residential and commercial premises in Bhubaneswar in bank fraud cases.
The searches were conducted on May 18 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
"ED has carried out search operations under the provisions of PMLA, 2002 on May 18, 2023, 8 residential and commercial premises in Bhubaneswar in bank fraud cases pertaining to M/s GDS Builders Pvt Ltd, M/s Surnag Builders Pvt. Ltd. and others," officials said.
According to the officials, during the searches, cash amounting to Rs 15 lakhs, gold jewellery weighing 1.978 kgs worth Rs 1.13 crore, sale deeds of certain properties, various incriminating documents and certain electronic devices were recovered which were duly seized.
Earlier in a different case, ED arrested a retired IAS officer Ram Bilas Yadav, the then Additional Secretary to the Uttarakhand Government, in connection with the ongoing investigation under the PMLA Act.
The ED initiated an investigation based on an FIR registered by the Vigilance Department of Dehradun against Yadav under the Prevention of Corruption Act, for possessing assets disproportionate to known sources of income.
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