Directorate of Enforcement (ED), Raipur Zonal Office has provisionally attached properties
including balance lying in the Bank accounts, flats, landed properties worth Rs. 3.76 Crore of
Sachin Kedar and Purushottam Kawale, members of Gold Smuggling Syndicate under the
provisions of the Prevention of Money Laundering Act (PMLA), 2002.
ED initiated investigation based on the Prosecution Complaint filed by the DRI under Section
135 of the Customs Act, 1962. Carriers of gold were intercepted and caught by the DRI while
carrying smuggled gold through illicit channels. Gold recovered from the possession of the carrier,
was of foreign origin and brought into India for its consumption at Raipur by Vijay Baid alias Vicky.
ED investigation revealed that Sachin Kedar has procured and supplied the foreign origin
smuggled gold from Kolkata to Rajnandgaon, Durg, Raipur, Nagpur and Mumbai on the instruction
of Vijay Baid. The gold was smuggled into India through Indo-Bangladesh Border. This smuggled
gold was then sold by Vijay Baid to various jewellers including Sunil Kumar Jain (M/s. Saheli
Jewellers), Prakash Sankhla (M/s. Navkar Jewellers), M/s. Sumeet Jewellers, Purushottam Kawale
(M/s Sagar Jewellers) and Dheeraj Baid.
In this case, total Proceeds of Crime has been estimated at Rs. 260.97 Crore (approx.) in
the form of foreign origin smuggled gold and silver. As on date, total properties worth Rs. 64.14
Crore has been attached/seized by ED.
