NEW DELHI: The Enforcement Directorate (ED) on Friday carried out searches at seven premises in Ahmedabad and Mumbai and seized proceeds of crime within the type of money amounting to Rs 13.5 crores.
This money seizure pertains to the case of Nashik Service provider Co-operative Financial institution (NAMCO Financial institution), Malegaon. The cash path investigation carried out by ED of “debit transactions” made by way of accounts maintained with NAMCO Financial institution and with the Financial institution of Maharashtra revealed that almost all of such quantities have been transferred to 21 sole proprietary considerations.
ED’s Mumbai Zone carried out the search operation. “Evaluation additionally revealed that transactions having a whole lot of crores have been credited in these accounts, largely by way of on-line banking channels, and have been additional transferred to numerous corporations and corporations,” mentioned the ED.
“Additionally enormous quantities operating into a whole lot of crores have been withdrawn in money from accounts of varied dummy entities and distributed the money withdrawn to angadias and hawala operators positioned at Ahmedabad, Mumbai and Surat.”
That is in continuation to the searches carried out within the case in November, added the company.
