Aurangabad: The Enforcement Directorate (ED) on Monday raided Gitanjali Gems Limited’s counter in a city-based mall and seized precious stones and valuables to the tune of several crores under the Prevention of Money Laundering Act, 2002.A team of five, led by ED’s assistant director Anil Verma, reached the mall around 11am and handed over the search warrant to the store where the counter is located. The team also had a couple of valuers with them to assess valuation of each of the seized article. Till the time of going to the press, staffers at the Gitanjali counter were seen assisting the ED officials with the search.Considering the huge number of articles at the counter, ED sources said the raid is likely to continue till Tuesday morning. Authorities maintained that the raid is part of the on-going action against the firm across the country after the company came under the scanner of various investigation agencies in connection with over Rs 11,000 crore Punjab National Bank (PNB) fraud detection involving fugitive billionaire Nirav Modi and his close aides.Earlier the city had at least four Gitanjali stores taken up by local jewellers and investors, but citing losses in business each of the traders cancelled their tie-ups with the firm. An ED official informed that currently they do not plan to check with the traders who no longer have any business tie-ups with Modi as the priority for now is to seize the valuables.

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