ED seizes Rs 62 lakh cash, gold bars after FEMA raids in Maharashtra

The Enforcement Directorate (ED) has seized Rs 62 lakh cash and seven kg gold bars after raiding some locations in Aurangabad district of Maharashtra in connection with an alleged illegal foreign exchange case, the agency said on Thursday

It said the searches were conducted on three premises of a "suspect" in the district under the provision of the Foreign Exchange Management Act (FEMA)

"During the search proceedings, Rs 62 lakh in cash and 7 kg gold bars have been seized from the premises in a case related to illegal dealing in foreign exchange," the central probe agency said in a statement. Further investigation is under progress, it said.

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