ED raids in Hyderabad, Mumbai; Rs 32.29 cr seized in cash, gold and diamonds

Hyderabad: The Enforcement Directorate (ED) conducted search operations at 13 locations across Hyderabad and Mumbai from May 14 to May 15, and seized a total amount of Rs 32.29 cr in cash and gold and diamond jewellery along with a large number of incriminating documents.

Of the total seizure, Rs 9.04 crore was in cash, while diamond jewellery and high-purity gold bullion (commonly known as gold biscuits) accounted for Rs 23.25 crore.

The search operations were conducted under the Prevention of Money Laundering Act (PMLA), 2002, based after multiple FIRs were registered by the Mira Bhayandar police station in Mumbai against several builders and henchmen.

The case pertains to the illegal construction of residential-cum-commercial buildings on government and private land under the jurisdiction of Vasai Virar Municipal Corporation (VVMC) since 2009.

According to the ED, the corporation had approved a sewage treatment plant and a dumping ground as part of a development plan. Over time, 41 illegal buildings mushroomed.

The ED states the buildings were built fully aware they would be eventually demolished for the development work. The builders misled the general public and committed serious fraud.

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ED investigations have named two VVMC officials – Sitaram Gupta and Arun Gupat, among others. They allege that the buildings were built with the involvement of corrupt corporation officials, who gave the nod for the illegal construction.

The central government officials also seized the premises of Y S Reddy, VVMC deputy director of town planning, and seized Rs 8.6 crore along with diamond jewellery and bullion.

On July 8 last year, the Bombay High Court had ordered the demolition of the 41 illegal buildings. When the residents approached the Supreme Court to put a stay, the apex court refused and on February 20, all the buildings were demolished.

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