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ED seizes 146 kgs gold worth Rs 82 crore from Hyderabad jeweller

The tax officials found out that the cash was unaccounted money and businessman was unable to explain the source of money

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Vijaywada (Andhra Pradesh): The Enforcement Directorate seized approximately 146 kilograms of gold jewellery worth Rs. 82.11 from a Hyderabad based jeweller on Thursday.

"ED seized 145.89 KG of gold jewellery worth Rs. 82.11 crores as a result of searches conducted at multiple locations namely, registered office cum residence of Kailash Gupta, jewellery showroom of M/s Musaddilal Jewellers Pvt Ltd (MJPL) at Hyderabad, ongoing investigation under the provisions of Prevention of Money Laundering Act, 2002 (PMLA) in a demonetisation case," ED said in a statement.

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