ED seizes Rs 62 lakh cash, 7 kg gold during FEMA-linked raids in Maharashtra

The Enforcement Directorate (ED) seized Rs 62 lakh cash and seven kg gold bars after conducting raids at some locations in Aurangabad district of Maharashtra in connection with an alleged illegal foreign exchange case.

ED seizes Rs 62 lakh cash, 7 kg gold during FEMA-linked raids in Maharashtra

MUMBAI: The Enforcement Directorate (ED) seized Rs 62 lakh cash and seven kg gold bars after conducting raids at some locations in Aurangabad district of Maharashtra in connection with an alleged illegal foreign exchange case.

The central agency issued a statement in which it said, “On the basis of specific information, searches have been conducted on three premises of a suspect in Aurangabad, Maharashtra by ED under the provisions of FEMA, 1999.’’

“During the search proceedings, Rs. 62 lakh in cash and 7 Kg Gold bars have been seized from the premises in a case related to illegal dealing in foreign exchange,” the agency said.

The investigation is under progress, the agency said.