Hyderabad: Sleuths of the Enforcement Directorate (ED) stumbled upon a unique scene where their searches uncovered Rs 2.5 crores in undisclosed cash concealed within a washing machine.
Capricornian Shipping & Logistics Pvt Ltd & its directors Vijay Kumar Shukla and Sanjay Goswami and associated entities Laxmiton Maritime, Hindustan International, Rajnandini Metals Limited, Stawart Alloys India Pvt Ltd, Bhagyanagar Ltd, Vinayak Steels Limited, Vashishta Constructions Pvt Ltd and their directors/partners Sandeep Garg, Vinod Kedia and others were raided at various locations in Delhi, Hyderabad, Mumbai, Kurukshetra and Kolkata.
The ED conducted searches under the provisions of FEMA,1999, a press release said.
The ED launched an inquiry following reliable information indicating the involvement of certain entities in transferring a significant amount of foreign exchange out of India, with suspicious outward remittances totalling Rs 1,800 crores to Galaxy Shipping & Logistics Pvt Ltd, Singapore, and Horizon Shipping & Logistics Pte Ltd, Singapore.
These foreign entities are overseen by a single individual named Anthony De Silva, the press release said.
Capricornian Shipping & Logistics Pvt Ltd, Laxmiton Maritime, and their associates were found to have sent outward remittances totalling Rs 1,800 crores to entities in Singapore under the guise of fake freight services and imports, concealing the transactions through intricate dealings involving shell companies such as Neha Metals, Amit Steel Traders, Triple M Metal and Alloys, HMS Metals, among others.
During the searches, various incriminating documents, digital devices and unexplained cash worth Rs. 2.54 crore have been found and seized, and 47 bank accounts have been frozen.
