The Enforcement Directorate (ED) raided various locations and office premises of Shree Ganesh Jewellery House in connection with a Rs 2,672 crore money laundering case.
Our officials have started search operations at 11 locations including Shree Ganesh’s office premises and residences of its senior officials in the city
The agency has been investigating the case under the Foreign Exchange Management Act, 1999 and under the Prevention of Money Laundering Act, 2002.
Based on a complaint of defrauding a consortium of banks led by the State Bank of India (SBI) for non-payment of loan to the tune of Rs 2,672 crore, the Central Bureau of Investigation (CBI) had earlier commenced an investigation against the company.
