New Delhi, Sep 5 (IANS): Enforcement Directorate (ED) on Tuesday said that they have seized four kgs of gold bullion and gold jewelry valued at Rs 2.12 Crore in Ludhiana belonging to the accused persons and their associates in Punjab tender scam case.

ED had carried out search operations on August 24 at the residential premises of Bharat Bhushan Ashu, ex-minister of food and civil supplies, Punjab and his associates at 25 locations at Ludhiana, Mohali, Nawanshahr, Jalandhar and Amritsar in Punjab.

The search operations had led to seizure of cash and freezing of funds lying in the bank accounts and freezing of properties at an aggregate amount of more than Rs 6.5 crore.

ED said that the bank lockers were also put under freeze. After the recent searches, the total value of recovery including seizure and freezing has reached to more than Rs 8.6 crore.

The ED had initiated PMLA investigation based on various FIRs registered by Vigilance Bureau of Ludhiana, under various sections of IPC and of PC Act.

ED said that the investigation was initiated against the above said persons and their associates in order to ascertain the money laundering activities undertaken by them for laundering the proceeds of crime.

ED said that further investigation is underway.