ED search on Debock Group premises yields Rs 78 lakh, eight luxurious cars

The Enforcement Directorate (ED) has wrapped up its prolonged search at the premises of the Debock group of companies late Saturday night as part of its probe into suspected irregularities in the stock market dealings.

The search operations mainly in Jaipur, besides Tonk and Deoli, that lasted for 72 hours last night is believed to have been the first of its kind in the share market trading in the state. The search parties have seized cash of around Rs 78 lakh and eight luxurious cars, and some documents, official sources said.

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They said that the ED officials suspected irregularities in transactions and other related procedures in stock market dealings that might have led to a scam to the tune of Rs 100 crore.

The sources said a sudden and steep hike in the rates of the shares of the group made the ED officials suspicious. The face value of the shares of the companies has gone up from Rs 8 to Rs 153 in a period of six months.