Joyalukkas under ED scanner; assets worth Rs. 305 crore seized
Shortpedia
Content Team
Image Credit: NewsBytes
Popular jewelry chain Joyalukkas has come under Enforcement Directorate's (ED) scanner. The investigative agency has seized assets worth Rs. 305 crore over alleged violations of the Foreign Exchange Management Act (FEMA). The ED raids at Joyallukas come days after the Kerala-based jeweler withdrew its IPO plans to raise Rs. 2,300 crore. The raids were carried out at several locations in Thrissur.
