In the course of its investigations, the Enforcement Directorate uncovered a significant cache of cash totaling Rs 2.54 crore, a portion of which was surreptitiously stashed away within a washing machine. These findings emerged amidst searches conducted across several cities as part of a probe into a forex violation case.
Issuing a statement on Tuesday, the investigative agency detailed its search operations carried out at the premises of Capricornian Shipping & Logistics Pvt Ltd, including its directors Vijay Kumar Shukla and Sanjay Goswami, alongside affiliated entities. The searches spanned multiple locations spanning Delhi, Hyderabad, Mumbai, Kurukshetra, and Kolkata.
The associated entities under scrutiny include M/s Laxmiton Maritime, M/s Hindustan International, M/s Rajnandini Metals Limited, M/s Stawart Alloys India Pvt Ltd, M/s Bhagyanagar Limited, M/s Vinayak Steels Limited, M/s Vashishta Constructions Pvt Ltd, and their respective directors and partners, including Sandeep Garg and Vinod Kedia.
According to the Enforcement Directorate's findings, these entities facilitated suspicious outward remittances totaling Rs 1,800 crore to two Singapore-based companies—M/s Galaxy Shipping & Logistics Pvt Ltd and M/s Horizon Shipping & Logistics Pvt Ltd. These remittances were allegedly disguised as payments for bogus freight services, and imports, and were layered through intricate transactions involving shell entities.
Alongside the discovery of concealed cash, which included funds secreted within a washing machine, the investigative agency seized various incriminating documents and digital devices during the searches. Additionally, it froze forty-seven bank accounts associated with the entities implicated in the case.
