While the declared value of the seized jewelery is Rs 92 crore, the fair market value of the seizure is Rs 85 crore, the ED said. The ED has alleged that the funds raised for payment of import bills have not been utilized for such purposes in many cases.
Sources said that the raids were conducted in connection with investigations into a 2014 case under Foreign Exchange Management Act involving crores. The group conducts pilgrimage services besides handicraft exports business.
IPS Officer S M H Mirza, during the interrogation, revealed that he met Samuel through Tiger Mirza, the “middleman” who had allegedly introduced Samuel to the Trinamool Congress leaders who were caught accepting money in the sting video.
Narada tapes, released before the 2016 Assembly elections, allegedly showed several Trinamool Congress MLAs and MPs accepting money in exchange for favours from Samuel, who posed as a businessman interested in making some investments in West Bengal.