Kolkata (West Bengal): A team of the Enforcement Directorate (ED) conducted raid at office of a businessman namely, Umesh Agarwal in the Ultadanga area, Kolkata. Accusing him of an alleged connection with the e-Nuggets app case.
Huge money has been recovered from the premises. The searches and counting are underway.
Earlier on Tuesday, the Directorate of Enforcement raided various locations of MBS Group of companies and Musadddilal Jewellers located in Telangana and Andhra Pradesh, official sources said.
According to the sources, the enforcement agency conducted the raids at 20 places in Telangana and Andhra Pradesh, including Hyderabad.
The raids were conducted in connection with the money laundering and Foreign Exchange Management Act (FEMA).
The MBS group and its director Sukesh Gupta and sister companies had obtained gold from MMTC on credit to maintain forex positions without paying an additional five per cent tax thereby causing loss to the corporation, the official said.