BRAND-NEW DELHI: The Enforcement Directorate (ED) on Friday carried out searches at 7 facilities in Ahmedabad and Mumbai and took profits of criminal activity in the type of money amounting to Rs 13.5 crores.
This money seizure relate to the instance of Nashik Merchant Co- operative Bank (NAMCO Bank),Malegaon The cash route examination carried out by ED of “debit transactions” made with accounts preserved with NAMCO Bank and with the Bank of Maharashtra disclosed that most of such quantities were moved to 21 single exclusive worries.
ED’s Mumbai Zone carried out the search procedure. “Analysis also revealed that transactions having hundreds of crores were credited in these accounts, mostly through online banking channels, and were further transferred to various firms and companies,” claimed the ED.
“Also huge amounts running into hundreds of crores were withdrawn in cash from accounts of various dummy entities and distributed the cash withdrawn to angadias and hawala operators located at Ahmedabad, Mumbai and Surat.”
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