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ED pan-India searches to check black money

ED on Wednesday conducted searches at 40 locations across the country in order to flush out black money parked with hawala operators.

Published: 01st December 2016 12:31 AM  |   Last Updated: 01st December 2016 12:31 AM   |  A+A-

money reuters

For representational purpose (File|Reuters)

By Express News Service

NEW DELHI: The Enforcement Directorate (ED) on Wednesday conducted searches at 40 locations across the country in order to flush out black money parked with hawala operators, currency exchange
agencies and other suspect individuals following reports of illicit exchange of demonetised high-value currency notes of Rs 1,000 and Rs 500 with new notes.
 
Without divulging details, agency officials said the searches were conducted by multiple teams of the ED in various cities including Delhi, Kolkata, Mumbai and Bengaluru.
 
In the eastern region, the agency conducted searches at 16 locations, including six in Kolkata. The sleuths also searched two places each in Bhubaneswar and Paradip (both in Odisha) and at least three
locations in Guwahati. About a dozen locations were also searched in the national capital and Mumbai.
 
The searches by ED’s Kolkata zone yielded Rs 10 lakh cash in new currency from the premises of a doctor. Foreign currency worth Rs 4 lakh was seized by the same zone during the operation in Kolkata.
 
Besides the ED, the Income Tax Department and the Central Bureau of Investigation keeping a close tab at instances of illegal exchange of old currency and hoarding of new currency notes by entities and
individuals.
 
Meanwhile, the CBI on Wednesday registered a case against a cashier working at a State Bank of Bikaner and Jaipur branch in Rajasthan for allegedly exchanging the now scrapped Rs 1,000 and Rs 500
denomination notes for new ones worth over Rs 1 crore after demonetisation.
           
A FIR was registered against Head Cashier Yogendra Singh Meena posted at the Dausa branch of SBBJ. Singh allegedly violated RBI guidelines for exchanging old notes with new ones. He has also been
booked for criminal conspiracy, cheating and certain provisions of the Prevention of Corruption Act.



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