ED Raid: Enforcement Directorate conducted raids in five cities, wads of money found in washing machine

ED Raid: According to ED, the locations which were searched are also associated with the organizations of the company's director and partner Sandeep Garg and Vinod Kedia. These include Lakshmiton Maritime, Hindustan International, Rajnandini Metals Ltd., Stuart Alloys India Pvt. Ltd., Bhagyanagar Ltd., Vinayak Steels Ltd., Vashishtha Construction Pvt. Ltd. Are included.

Mar 27, 2024 - 10:45
 0
ED Raid: Enforcement Directorate conducted raids in five cities, wads of money found in washing machine

In the foreign exchange violation case, Capricorn Shipping and Logistics Pvt Ltd has been taken into custody by ED. and conducted raids at the Delhi, Hyderabad, Mumbai, Kurukshetra, and Kolkata residences of its directors, Vijay Shukla and Sanjay Goswami. The agency was able to recover Rs 2.54 crore in cash. It was taken from the washing machine in part. The ED froze 47 bank accounts in addition to seizing digital devices and documents that could be used as evidence.

According to ED, the locations which were searched are also linked to the entities of the company's director and partner Sandeep Garg and Vinod Kedia. These include Lakshmiton Maritime, Hindustan International, Rajnandini Metals Ltd., Stuart Alloys India Pvt. Ltd., Bhagyanagar Ltd., Vinayak Steels Ltd., Vashishtha Construction Pvt. Ltd. Are included. However, the agency has not disclosed when the raids were conducted.

The investigation found that these organisations had engaged in FEMA-violating foreign exchange transfers out of India with the assistance of Singapore's Galaxy Shipping & Logistics and Horizon Shipping & Logistics. Anthony de Silva is the person in charge of these organisations. Through shell firms, Rs 1,800 crore was routed to institutions in Singapore.

Muskan Kumawat Journalist & Writer
Electronics Special
Electronics Special