ED raids premises of Atlas Jewellery, seizes Rs 26.59 crore worth cash, gold and diamond jewellery
New Delhi, Jan 25: The Enforcement Directorate (ED) on Monday said it has seized Rs 26.59 crore worth of cash, fixed deposits and gold and diamond jewellery after it raided a jewellery group in a money laundering probe linked to an alleged fraud with a Kerala-based bank.
The business premises and bank lockers of Atlas Jewellery India Ltd (AJIL) in Delhi, Mumbai and Bengaluru were searched on January 20 and 22 in a case of cheating South Indian Bank's Round South Branch in Thrissur, Kerala.
The probe by the federal agency was taken up after studying an FIR of the state police that was field against AJIL, its promoters M M Ramachandran and Indira Ramachandran.
The ED said in a statement that "with an intention to cheat the bank, they (promoters) planned and presented forged documents to the bank and availed loan worth Rs 242.40 crore during the period 21.03.2013 to 26.09.2018 and have not repaid the money."
"M M Ramachandran had invested Rs 100 crore by way of purchase of equity shares of Atlas Jewellery India Limited, New Delhi and transferred another Rs 14 crore in the escrow account with Axis Bank, New Delhi," the ED said.
During the raids, it said, a total seizure of Rs 26.59 crore in the form of fixed deposits, Indian currency, gold, silver and diamond jewellery has been made.
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Court restrains media from using Deve Gowda and Kumaraswamy's names in Prajwal Revanna sex scandal
Bengaluru: In a recent development concerning the Prajwal Revanna sex scandal, the court has issued a restraining order against the usage of the names of former Prime Minister H. D. Deve Gowda and former Chief Minister Kumaraswamy.
The court's decision comes in response to an application filed by Deve Gowda and Kumaraswamy, seeking to prevent media outlets from associating their names with the case.
Sessions Court Judge who heard the applications filed by H. D Deve Gowda and HD Kumaraswamy highlighted their lack of involvement in the case and stressed on the threat to their dignity and respect posed by the media's usage of their names in connection with the scandal.
Consequently, the judge granted an interim injunction, restraining media, newspapers, and social media platforms from utilising their names.
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