431 Kg Gold, Silver Seized From Secret Lockers Of Firm In Bank Fraud Case

The premises of Raksha Bullion and Classic Marbles were raided in connection with the case against a company called Parekh Aluminex Ltd., the federal agency said in a statement.

The Enforcement Directorate today seized 431 kgs of gold and silver worth more than Rs 47 crore after it searched secret lockers of a bullion company as part of a money laundering probe linked to an alleged bank loan fraud case.

The premises of Raksha Bullion and Classic Marbles were raided in connection with the case against a company called Parekh Aluminex Ltd., the federal agency said in a statement.

During the raids, keys of some secret private lockers were found at the premise of the bullion company, it said.

"Upon searching the private lockers, it was found that the locker operation was being done without following proper norms. No KYC was followed and there was no CCTV camera installed at the premise and there was no in and out register," it said.