The Enforcement Directorate (ED) has confiscated ₹ 2.54 crore in cash described as “unexplained” during raids conducted in multiple cities, with some of it discovered concealed inside a washing machine, in connection with an alleged breach of foreign exchange regulations.
These searches took place at various sites in Delhi, Hyderabad, Mumbai, Kolkata, and Kurukshetra in Haryana over the past several days, although the ED did not reveal where the cash concealed in the washing machine was located.
During the search operation, ₹ 2.54 crore in unexplained cash, with a portion concealed inside a washing machine, was uncovered and seized. Additionally, various “incriminating” documents and digital devices were confiscated during the raids. Furthermore, a total of 47 bank accounts linked to the implicated entities have been frozen.
The operation was initiated based on “reliable information” indicating that the entities were engaged in substantial foreign exchange transfers outside of India. They executed “suspicious” outward remittances totaling ₹ 1,800 crore to Singapore-based Galaxy Shipping and Logistics and Horizon Shipping and Logistics.
The properties of numerous companies and their directors were searched, including Capricornian Shipping and Logistics Pvt Ltd, Laxmiton Maritime, Hindustan International, Rajnandini Metals Limited, Stawart Alloys India Pvt Ltd, Bhagyanagar Limited, Vinayak Steels Limited, and Vashishta Constructions Pvt Ltd.
The directors and partners of these firms, including Vijay Kumar Shukla, Sanjay Goswami, Sandeep Garg, and Vinod Kedia, among others, are also subjects of investigation.
Both overseas entities are overseen by an individual named Anthony De Silva. Capricornian Shipping and Logistics, Laxmiton Maritime, and their affiliates transferred ₹ 1,800 crore to the Singaporean firms under the pretext of fictitious freight services and imports. These transactions were facilitated through intricate dealings involving shell companies like Neha Metals, Amit Steel Traders, Triple M Metal and Alloys, and HMS Metals.
