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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Allen, Raghuvanshi, Green power KKR to 29-run win over GT
Kolkata (PTI): Finn Allen blasted a 35-ball 93, while Angkrish Raghuvanshi hit an unbeaten 44-ball 82 as Kolkata Knight Riders kept their playoff hopes alive with a 29-run win over Gujarat Titans in the IPL match here on Saturday.
Sent in to bat, Allen went on a six-hitting spree, smashing 10 maximums and four boundaries to add 95 off 41 balls with Raghuvanshi (82).
Raghuvanshi then shared another 108 off 53 balls with Cameron Green (52 not out) to power KKR to a challenging 247 for 2.
In reply, GT could manage 218-4, riding on skipper Shubman Gill's 49-ball 85 and a 35-ball 57 from Jos Buttler. Opener Sai Sudarsan was retired hurt but returned to make a 28-ball 53 not out.
Sunil Narine (2/29) claimed two wickets and Saurabh Dubey snapped one for KKR.
For GT, Mohammed Siraj (1/50), Sai Kishore (1/38) were the wicket-takers.
Brief Score:
KKR: 247 for 2 in 20 overs (Finn Allen 93, Angkrish Raghuvanshi 82 not out, Camero Green 52 not out; Mohammed Siraj 1/50).
GT: 218 for 4 in 20 overs (Shubman Gill 85, Sunil Narine 2/29).
