इंडियन आवाज़     20 Apr 2018 10:06:05      انڈین آواز

ED raids over 100 locations across India, uncovers 2300 shell companies

WEB DESK

In a massive crackdown against shell companies, the Enforcement Directorate, ED is carrying out searches across 100 locations in India.

blackmoneyraidSo far, the agency has managed to uncover around 2300 shell companies. In Mumbai and Delhi alone the ED has discovered over 1000 such companies. Most of these companies were formed during the period when exchange of the old Rs 500 and Rs 1000 was allowed after the November 8 demonetisation announced by Prime Minister Narendra Modi.

These companies are alleged to have transferred money during the time when exchange of old Rs 500 and Rs 1000 was allowed. The companies are also suspected to be involved in money laundering.

The raids have been carried out at companies in Delhi, Mumbai, Chennai, Bengaluru, Bhuvaneshwar, Kolkata and other metro cities.
ED officers are going through records of operators who run allegedly shell companies and according to initial information, the over 300 companies are suspected to have converted several hundred crores of rupees of black money into white.

The operation is said to be part of Prime Minister Narendra Modi’s directive to crack down on shell companies that were used by hoarders and even legitimate business houses to launder money during demonetisation.

ED officials are zeroing on a few individuals who allegedly helped politicians launder money. One of the individuals who has been the target of a raid is Jagdish Purohit from Andheri (W) in Mumbai. He is suspected to have run 700 companies from a single address.
He is suspected of helping Nationalist Congress Party (NCP) politician and former Maharashtra minister Chhagan Bhujbal of converting Rs 46 crore of black money into white.

Leave a Reply

Your email address will not be published. Required fields are marked *

QAUMI AWAAZ

Justice Rajinder Sachar is no more

  AMN / NEW DELHI Well know legal luminary, human righ activist and former Chief Justice of the Delhi ...

“Sabka Saath, Sabka Vikas” is not mere a slogan, says Naqvi

Our Correspondent / Rampur Union Minority Affairs Minister Mukhtar Abbas Naqvi today said that “Sabka Saath ...

Supreme Court judgment recognises powers of NCMEI

Our Correspondent / NEW DELHI The Supreme Court has ruled that the National Commission for Minority Education ...

SPORTS

CWG 2018: Shuttlers continue India’s medal rush in Gold Coast

Gold Coast India's badminton players continued their fine run here on Sunday with Saina Nehwal and Kidambi ...

CWG 2018: Manika strikes gold, clinches mixed bronze with Sathiyan in Table Tennis

Gold Coast India's Manika Batra won the bronze medal in the mixed doubles team event of Table Tennis with G ...

Saina Nehwal clinches Badminton Singles Gold in CWG

  https://twitter.com/TheBridge_IN/status/985386456511266816 On the concluding day of the Commonwealt ...

@Powered By: Logicsart