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Jewellery merchant News

Enforcement Directorate

06 Aug 2020

ED attaches assets of Chennai based jewellery merchant in bogus import case

The investigation further revealed Madanlal Jain, the main conspirator, had earned commission for his role in the illegal transactions of foreign remittances made on the strength of fake bills of entry Part of the said commission so earned was routed to the bank account of M/s NAC Jewellers (P) Ltd, company controlled by Anantha Padmanaban to the tune of Rs 7 crores The probe also established that this transaction has been carried out by N Anantha Padmanaban with full knowledge that the money so received was tainted

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