ED conducts raids on Sri Krishna Jewellery shops, offices in Hyderabad

The Enforcement Directorate is conducting raids on Sri Krishna Jewellery shops and offices across the city on Thursday. Earlier, a DRI case was registered against it for violating rules by diverting 1,100 kgs of gold jewellery worth Rs 330 crore.

Hyderabad:The Enforcement Directorate is conducting raids on Sri Krishna Jewellery shops and offices across the city on Thursday. Earlier, a DRI case was registered against it for violating rules by diverting 1,100 kgs of gold jewellery worth Rs 330 crore. The DRI said that this came to light at Ravirala unit in Rangareddy district

It may be recalled that In 2019, DRI officials arrested the MD of the jewellery shop, Pradeep Kumar, and three others in the case and remanded them in custody. Based on that case, the authorities gathered details of money laundering. Meanwhile, officers are conducting searches at Sri Krishna Jewellery shops and offices, including Banjara Hills in the city. They are questioning the staff at all the stores.