Brief by Shorts91 Newsdesk / 05:55pm on 26 Mar 2024,Tuesday India
The Enforcement Directorate (ED) seized Rs 2.54 crore, part of it found in a washing machine, during searches related to a forex violation case. Capricornian Shipping & Logistics Pvt Ltd and its directors, along with associated entities, are under investigation for suspicious outward remittances of Rs 1,800 crore to Singapore-based companies. These remittances were disguised as bogus freight services and imports. The ED found incriminating documents and froze 47 bank accounts. The probe agency is unraveling a web of complex transactions involving shell entities.
