ED conducts searches at 40 locations across country

Officials said the searches are being conducted by multiple teams of the Enforcement Directorate in various cities, on Wednesday.

The Enforcement Directorate (ED) on Wednesday conducted searches at 40 places across the country in order to check black money held with currency exchanges, hawala dealers and others in the wake of the demonetisation of Rs. 500 and Rs. 1000 notes.

Officials said the searches were conducted by multiple teams of the ED in various cities and as many as 100 sleuths. along with police personnel, were undertaking the search operation.

In the eastern region, the ED is making searches at 16 places, including six in Kolkata, two each in Bhubaneswar and Paradip (both in Odisha) and Guwahati, among others.

Sleuths from the Kolkata zone of the ED seized Rs. 10 lakh cash in new currency from the premises of a doctor during the said operation, even as an assortment of foreign currency worth Rs. 4 lakh was seized from the same area.

They said the ED was looking at instances of illegal exchange of old currency and stashing away of new currency to perpetrate activities such as hawala and money laundering.

The ED is the central agency to enforce two laws — the Foreign Exchange Management Act (FEMA) and the Prevention of Money Laundering Act (PMLA).