Home Headlines India I-T dept raids Chinese language companies for cash laundering, hawala - india...

I-T dept raids Chinese language companies for cash laundering, hawala – india information


The Earnings Tax division on Tuesday raided sure Chinese language people and Indian professionals allegedly concerned in cash laundering and hawala transactions, officers mentioned.

The I-T division mentioned it discovered that greater than 40 financial institution accounts have been created in India, which have been linked to a number of shell corporations, through which transactions value Rs 1,000 crore have been accomplished over a time frame.

Officers conversant in the probe mentioned the principle suspect was recognized as a person recognized as Charlie Peng, a Chinese language nationwide residing on a pretend Indian passport in Manipur for the previous six years.

Round half a dozen extra of his associates, who have been serving to him in cash laundering and hawala transactions, have been additionally recognized.

Folks within the IT division and finance ministry, conversant in the raids, mentioned Peng was taking the assistance of some Indian chartered accountants and financial institution officers for alleged unlawful monetary transactions by means of shell corporations and was additionally utilizing the hawala route. A subsidiary of a Chinese language firm was recognized and its position is being investigated, the officers added.

Peng’s Chinese language identify was recognized as Luo Sang. The Enforcement Directorate (ED) is more likely to be roped in for cash laundering investigations and Central Bureau of Investigation (CBI) could also be requested to probe if a bigger nexus is suspected.

“Primarily based on credible data that few Chinese language people and their Indian associates have been concerned in cash laundering and hawala transactions by means of sequence of shell entities, a search motion was mounted at numerous premises of those Chinese language entities, their shut confederates and couple of financial institution staff,” a Central Board of Direct Taxes (CBDT) assertion mentioned.

“A subsidiary of Chinese language firm and its associated considerations have taken over ~100 crore bogus advances from shell entities for opening companies of retail showrooms in India,”the assertion mentioned.

“Incriminating paperwork in respect of hawala transactions and laundering of cash with lively involvement of financial institution staff and Chartered Accountants has been discovered because of search motion,” it added. The division refused to disclose the identify of different Chinese language people or corporations.

Stay tune

110FansLike
400FollowersFollow

Most Popular

US helps India, China protests; Decision within the US Congress

The USA has lauded India's aggression in opposition to China within the wake of the Line of Management (LoC) battle in Ladakh.

In 24 hours, 1,007 individuals died and 64,553 new circumstances had...

The variety of coronary coronary heart illness sufferers within the nation is growing quickly. Greater than 60,000 coronary coronary heart illness sufferers...

Terrorist assault in Jammu and Kashmir, two policemen martyred; Search operation...

A police convoy has been attacked in Jammu and Kashmir. The assault happened within the Naugaon sector of Srinagar. Two policemen have...

Prashant Bhushan convicted of contempt of Supreme Courtroom, sentenced on August...

Senior lawyer Prashant Bhushan has been convicted by the Supreme Courtroom of contempt of courtroom. A photograph of Chief Justice Sharad Bobade...

Nishan-e-Pakistan award for separatist chief Syed Ali Shah Geelani in Jammu...

Former Hurriyat and separatist chief Syed Ali Shah Geelani has been honored by Pakistan on its Independence Day. On Friday, August 14,...

6 members of Mirza’s household together with BJP MLA contracted coronary...

Incumbent BJP MLA from Sangli-Miraj assembly constituency and former social justice minister Suresh Khade has contracted coronary heart disease.

One jawan martyred, one injured in Naxal firing in Gadchiroli

Gadchiroli: One policeman was killed and one other injured when Naxals opened fireplace on two jawans who had been on their option...

Swami was livid over the Air India sale supply to the...

Stated "If the deal goes forward, I'll file a felony criticism towards bigwigs within the authorities."