Directorate of Revenue Intelligence on Saturday recovered Rs 2.60 crore in cash, along with 80 Kg silver and 15 Kg gold from Noida-based firm in a raid. Earlier on Friday, the DRI officials had busted a Hawala racket and seized Rs. 1.34 crore in new Rs 2,000 denomination besides foreign currencies worth USD 7000 from a gang. Arrests were made after DRI Chennai zone officials intercepted five persons outside the Anna International airport. The incident came to light after DRI officials seized 85.58 lakh cigarettes worth over Rs. 10 crore from a container coming from Singapore at Inland Container Depot, Tughlakabad. Enforcement directorate, CBI, DRI IT and various agencies have been carrying out country-wide raids to unearth wrong doings and malpractices after implementation of demonetisation.
The sleuths of Directorate of Revenue Intelligence’s Lucknow zonal unit carried out the searches for two days on the premises of M/s Shri Lal Mahal Limited and the residences of company officials as part of its anti-black money operations after demonetisation, the agency said in a statement.
Four people associated with the firm were arrested late evening after questioning, a DRI official said.
“It is found that the unit has illegally diverted and sold 430 kg (valued at about Rs 140 crore) of duty free gold in the market.
“Cash amounting to Rs 2.60 crore (Rs 2.48 crore in old currency notes and Rs 12 lakh in new notes) has been seized.
“Unaccounted 80 kg of silver found in the factory has also been recovered. Further, 15 kg of gold jewellery has been seized from the premises of the firm,” the statement added.
The DRI alleged that the firm had also “transferred huge amount of money through RTGS (funds transfer through banking channels) to a firm operating from their premises to purchase gold coins or bars of 24kg after November 8 (the day Rs 1000/Rs 500 were demonetised) from MMTC, India’s largest public sector trading body, also to sell in the market for old demonetised currency”.
Earlier, the agency had said that directors of the firm were either admitted in hospital or avoiding investigations, as a result two persons had been detained for questioning.
(With inputs from agencies)