Delhi Taxmen Bust Hawala Racket, Seize Rs 25 Crore From 100 Lockers

Hawala Racket: Income Tax department officials exposed a major hawala racket in Delhi. Preliminary investigations suggest that hawala traders were using private lockers to keep their money, said sources.

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Delhi Taxmen Bust Hawala Racket, Seize Rs 25 Crore From 100 Lockers

Delhi Hawala Racket: The cash allegedly belonged to some high profile NCR-based individuals


New Delhi: 

Highlights

  1. Raids were carried out in at least eight locations in Delhi
  2. Cash belongs to high-profile traders in National Capital Region
  3. This is third major 'locker operation' carried out by agencies this year

A team of the Income Tax Department raided as many as 100 lockers at a private vault on Sunday, in Delhi's Chandni Cowk area and seized cash worth Rs 25 crore. The raids were carried out in at least eight locations across the city I-T Department sources told news agency ANI.

Preliminary investigations suggest that hawala traders were using the private lockers to keep their money, said sources.

The cash allegedly belonged to some high-profile individuals based in the National Capital Region (NCR), including tobacco traders, chemical traders and dry fruit dealers. Sources believe that these businessmen were apparently involved in hawala trading and had big international links.

This is the third major 'locker operation' carried out by the investigating agencies this year. The Enforcement Directorate (ED) in September, raided multiple locations in Delhi and Mumbai in connection with a Rs 700 crore Dubai-linked hawala racket and seized Rs. 29 lakh cash and a number of documents. 

The raids, sources said, were linked to the businesses and alleged illegal financial transactions linked to a Dubai-based hawala operator Pankaj Kapur. He is already being investigated by the central probe agency in a hawala case to the tune of Rs. 3,700 crore. 

Earlier in January, the I-T department had seized more than Rs 40 crore in cash from another private vault in the upmarket South Extension Part 2 in the capital.

(With inputs from ANI & PTI)



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