The Enforcement Directorate (ED) investigations towards large scale purchase of gold biscuits in Hyderabad during post-demonetization period, is said to be leading towards few BJP leaders also and among them atleast two sitting MLAs of the party were involved. Speculations in the BJP circles are going high that these two MLAs have purchased few cores of rupees worth gold.

Besides these two MLAs, several other prominent BJP leaders were also reportedly purchased large quantum of gold biscuits exchanging their old notes. Besides BJP leaders, leaders of several other political parties were also `found’ to be involved. Of-course high business circles also quickly exchanged their old notes with gold biscuits.

The sudden spurt in the bullion market after demonetization led ED officials to suspect foul play and started probing into transactions. However, none of the names related to high value purchases are not coming out as they are keeping secrecy.

It may be recalled that last week ED investigations have revealed that gold biscuits worth Rs 2,700 crore in cash was bought with demonitised notes in November 2016 in Hyderabad alone. The persons who did the purchase went underground thereafter. Moreover, 8,000 kgs of gold was imported into Hyderabad between November 8 and 30. And there was fresh import of 1,500kgs of gold between December 1 and 10.

Already Musaddilal Jewellers in Banjara Hills was caught almost red-handedly with a suspicion of foul play. It has claimed that they received demands and advance payments and sold the gold to 5,200 customers and made Rs 100 crore and that the business was transacted till the midnight of November 8-9.

ED felt the jeweller could have sold gold worth Rs 100 crore in the few hours from when Prime Minister Narendra Modi announced demonetisation and the ban came into effect that midnight. CCTV footage in the jeweller’s shop showed that there is no record of customers entering jewellers that night. So it was established that only few persons.