Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » India
1-min read

ED Conducts Raids on Hawala Operators in Delhi, Jaipur, Seizes Rs 4.25-crore Cash

The Enforcement Directorate raided Kailash Khandelwal and his brother Kamal Khandelwal under the Foreign Exchange Management Act (FEMA).

PTI

Updated:September 13, 2019, 8:38 PM IST
facebookTwitterskypewhatsapp
ED Conducts Raids on Hawala Operators in Delhi, Jaipur, Seizes Rs 4.25-crore Cash
File photo of Enforcement Directorate
Loading...

New Delhi: The Enforcement Directorate has seized Rs 4.25 crore in cash after raids in Delhi and Jaipur on alleged hawala dealers using shell firms to transfer crores of rupees abroad, the agency said on Friday.

It said it raided Kailash Khandelwal and his brother Kamal Khandelwal under the Foreign Exchange Management Act (FEMA).

The ED said in a statement that the brothers and their other operators based in the country and in Dubai "used to arrange foreign currencies like USD, Pound, RMB, and Euro among others at various locations abroad on demand by Indian nationals and also by people residing in India."

The agency searched 9 premises linked to them in Delhi and Jaipur and seized Rs 4.25 crore in cash and "incriminating documents reflecting transactions through shell companies in India and Hong Kong."

It charged that the duo "arranged" funds if anyone wanted to transfer money to India from abroad. "Funds were transferred in cash and also using bank accounts," it alleged.

Documents and paper slips related to international hawala transactions running into several hundred crores have been found at the premises searched, it said.

"The scrutiny and examination of documents is being done and further investigation is in progress," the agency said. ​

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results