ED raids nine locations in city, seizes currency, gold

Ahmedabad: The Enforcement Directorate's Ahmedabad zonal office conducted searches at nine locations in Ahmedabad under the Foreign Exchange Management Act, 1999, at premises linked to Anas Group and its partners, the agency said. The entities are engaged in tobacco processing, packaging and manufacturing under the brand names Amber Tobacco, Umda Tobacco and Sama Filter Khaini, according to the release."The searches were conducted on the basis of information from reliable sources that members of the Nagariya family (Anas Group and its partners) hold numerous overseas assets (in posh areas of Dubai and investments in various businesses in Dubai), funds for which were sent overseas through hawala/illegal channels and unauthorized banking channels," read the release.
The seizures included Rs 1.01 crore in Indian currency, foreign currency equivalent to Rs 33.34 lakh, 16 gold bars with foreign markings to the tune of 1.6 kg (market value of approx. Rs 2.5 crore), and 168 silver bars with an approximate weight of 80kg (market value of approx. Rs 2 crore). These were seized "along with various incriminating documents/records revealing foreign properties in Dubai associated with the Anas Group partners/family members," the release states.Officials said that further investigation is on.