CBI said cases was registered against companies Tanya Jwellers and Jaimin Jewellers pvt Limited their MDs and directors and other unknown officials for their alleged involvement in availing Rs 63 crore demand loan against export collection bills fraudulently, in connivance with private logistic company, from Indian Overseas Bank.
The CBI carried out searches at the residence of Gautam Mehta, Charu Mehta and Jaimin Mehta, the directors of Jaimin Jewellers pvt Limited and Ashok Doda, the Director of Tanya Jwellers.
"Searches were conducted at five places in Mumbai at the residential and official premises of managing directors and directors of two diamond exporting jewellery companies which resulted in recovery of cash of Rs 1.32 crore; fixed deposits worth Rs 4.5 crore and incriminating documents," CBI said in a statement.