The Enforcement Directorate (ED) seized diamond and gold jewellery worth Rs 85 lakh, along with Rs 25 lakh in cash, during searches at four locations in Bhopal related to a bank fraud case involving Excel Vehicle Pvt Ltd. The company, along with its directors, allegedly diverted Rs 42 crore in funds from Bank of India to its sister concerns, resulting in a loss of Rs 44 crore. The ED’s investigation, based on a CBI FIR, revealed that Excel Vehicle misused the funds for payments to vendors and loan repayments, while also mortgaging properties with multiple banks. The ED also seized incriminating documents and mobile phones.