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The Times of India
The Times of India
National
TIMESOFINDIA.COM

Hyderabad: ED seizes cash, gold worth over Rs 12 crore in FEMA probe

ED Gold Hyderabad Enforcement Directorate Brightcom Group New Delhi SEBI

NEW DELHI: As part of an investigation into alleged foreign exchange violation, the Enforcement Directorate(ED) on Saturday said that it has seized cash and gold worth more than Rs 12 crore from the premises of a Hyderabad-based auditor.

The action came after raids were undertaken on August 23 under the Foreign Exchange Management Act (FEMA) at the office of Brightcom Group Ltd., residences of its CEO M Suresh Reddy and CFO SLN Raju and the residence and office of its auditor P Murali Mohana Rao.

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