Friday, Jun 02, 2023 | New Delhi 31*C

No locker, no wall, 'treasure' found in washing machine... ED raid nets Rs 2.54 crore

The Enforcement Directorate raided nearly half a dozen companies and their directors, including Macaronian Shipping and Logistics Pvt. ED has also seized several documents and digital devices have also been recovered during these raids.
2 Month ago

The Enforcement Directorate (ED) raided Macronian Shipping and Logistics Pvt Ltd and its directors Vijay Kumar Shukla, Sanjay Goswami and their other companies in the FEMA case. During the raid Rs. 2.54 crore was recovered. A part of the recovered amount was hidden in a washing machine. Apart from this, objectionable documents and several digital devices were also recovered during the raid.

Other companies include Laxmiton Maritime, Hindustan International, Rajnandini Metals Limited, Stewart Alloys India Pvt. These include MS Bhagyanagar Limited, Vinayak Steels Limited, Vashishtha Construction Pvt. His director and partner Sandeep Garg and Vinod Kedia were raided in Delhi, Hyderabad, Mumbai, Kurukshetra and Kolkata.

Accused of sending foreign currency out of India

The ED's investigation has revealed that these entities are involved in large-scale remittance of foreign currency out of India, in violation of the Foreign Exchange Management Act (FEMA). Investigations revealed that Galaxy Shipping & Logistics Pvt Ltd, Singapore and Horizon Shipping & Logistics Pvt Ltd, Singapore, both foreign entities are managed by Anthony de Silva.

Crore transactions in the name of transporting fake goods

During the raids, it was revealed that with the help of shell companies like Macronian Shipping and Logistics Pvt Ltd and Laxmitan Maritime, Rs 1800 crore was given to Singapore-based entities in the name of fake cargo transportation and other functions. Names of these selling companies are Neha Metals, Amit Steel Traders, Triple M Metal & Alloys, HMS Metal.

ED freezes 47 bank accounts

ED has also frozen 47 bank accounts of the involved entities to prevent any transactions. ED is examining the recovered documents and equipment to get to the bottom of the case. In such a situation, there is a possibility that in future, the documents and devices obtained may lead to major revelations about the transactions made through the accounts of these companies.

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