New Delhi [India], October 23 (ANI) The Enforcement Directorate (ED) on Friday conducted searches at the offices of a Private limited company, the residence of its Director in Mumbai and Delhi and half a dozen premises in a case, officials said.
A farmhouse in Karjat in Maharashtra is also being covered in the operation being carried out since early morning based on certain inputs.
A key person of the group, a Mumbai-based consultant and businessperson, is under the ED’s radar in the case, said officials close to the investigation.
They said the company and its directors, have allegedly received large sums of foreign exchange from suspicious companies based in Dubai and Singapore.
“Evidence has been found indicating that the director incorporated companies by appointing his own employees and dummies as directors,” said the officials.
Within a year of incorporation, the agency officials said, “these companies received hundreds of crores of rupees, which were layered through multiple shell entities.”
“Foreign currency, Indian currency, and valuables worth several crores of rupees have been found so far,” added the officials. (ANI)
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