Enforcement Directorate likely to join hawala investigation in Kolkata

KOLKATA: The Enforcement Directorate has initiated an inquiry into the cash seizure cash in Kolkata. On Thursday, the the Central Board of Direct Taxes conducted search operations at 13 place in Kolkata and Siligrui acting on specific information by central agencies and seized cash worth Rs 44 crore stocked into 20 gunny bags, travel bags and boxes. The case of unaccounted cash was later referred to the ED for inquiry.

According to sources in finance ministry, the directorate might register a case under Foreign Exchange Management Act after the verification process gets over. The sources further added that the accused persons were running a business of illegal lottery tickets in Bengal, Nagaland , Sikkim and Mizoram.

There are reports that money had been transferred to middle east countries through a network of Hawala operators. it was learnt that few days ago, around Rs 30 lakhs were transferred to middle east countries through the Hawala network from the Lottery business running in the city.