New Delhi: The Enforcement Directorate (ED) on Thursday said that they recently conducted searches at various premises in Mumbai in connection with a money laundering probe against Max Flex Imaging and System. Ltd., managed and controlled by Hitesh R. Jobalia and Nimesh N. Shah. The ED stated that this action resulted in the seizure of stocks of Flex, Vinyl, and other items worth Rs 12 crore, Fixed Deposit Receipts (FDRs) amounting to Rs 1.25 crore, Demat accounts with a balance of Rs 6.30 crore, foreign currency, cash, gold jewellery and silver bars totaling Rs 20.11 crore. The ED initiated a PMLA (Prevention of Money Laundering Act) investigation based on an FIR registered by the BS & FB
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