New Delhi, Nov 30 : The Enforcement Directorate (ED) said on Wednesday that it carried out searches at seven locations in Mumbai, Delhi and Pune in connection with a money laundering case related to a bank fraud to the tune of Rs 22,842 crore involving ABG Shipyard Limited and others. The financial probe agency said in a statement said that it carried out searches at seven locations in Mumbai, Delhi and Pune last Friday under the provisions of Prevention of Money Laundering Act (PMLA). 'The searches were conducted at the residences of the persons or family members connected to ABG Shipyard Ltd and its related or group companies, which resulted in the recovery and seizure of unaccounted cash, foreign currency, bullion and jewellery to the tune of Rs 5 crore,' the ED said. Giving the breakup, the ED said that Rs 85 lakh in Indian currency, foreign currency equivalent to Rs 46.85 lakh, gold and silver coins worth Rs 86.52 lakh, and jewellery worth Rs 2.83 crore were recovered. The ED case is based on an FIR registered by the CBI against ABG Shipyard Ltd and others for causing loss to the tune of Rs 22,842 crore to the consortium of banks led by ICICI Bank. The ED said that its probe revealed that ABG Shipyard and its group companies availed various credit or loan facilities from the consortium of banks for the purpose of working capital requirement and capital expenditure etc. 'However, ABG Shipyard and its group companies utilised huge funds for purposes other than its stated use and diverted the same through various group companies incorporated in India and abroad,' it said. The ED probe till now has resulted in attachment of properties worth Rs 2,747.69 crore and a charge sheet has also been filed by the agency before the court. /IANS