Mumbai, Aug. 27 -- The Enforcement Directorate (ED) has seized jewellery valued at approximately Rs 12.20 crore and cash amounting to around Rs 43.90 lakh during searches at seven residential and business premises and three bank lockers in Mumbai and Vadodara in connection with Rs 160.55 crore bank loan fraud case involving Bilpower Limited, the agency said in a press release.

During the searches, the agency also recovered documents relating to assets, including immovable properties, land and machinery, along with other incriminating documents, books of accounts and ledgers, and digital devices. The ED said two bank accounts holding approximately Rs 27 lakh were frozen, while three bank lockers were also frozen.

In a post on X, the ED s...